What is the journal entry to record the direct labor summarized on the labor distribution report? A. Debit Finished Goods; credit Payroll B. Debit Work-in-Process; credit Payroll C. Debit Payroll; credit Direct Labor D. Debit Payroll; credit Cash

Raw material inventory appears on the

A. balance sheet.

B. income statement.

C. cost of goods manufactured statement.

D. Both a and c

Omega.com sold 25 jet skis for $7,000, which cost $5,000. The entry to record the sale would include a

A. credit to Finished Goods Inventory for $5,000.

B. credit to Sales for $7,000.

C. debit to Cost of Goods Sold for $5,000.

D. All of the above

What is the journal entry to record issuing raw materials from the storeroom?

A. Debit Raw Materials Inventory; credit Work-in-Process

B. Debit OverheadControl; credit Work-in-Process

C. Debit Work-in-Process; credit OverheadControl

D. Debit Work-in-Process; credit Raw Materials Inventory

If direct labor for the month is $80,000 and overhead is applied based on 75% of direct labor dollars, what is the entry to apply overhead?

A. Debit Work-in-Process Inventory $80,000; credit Payroll $80,000
B. Debit OverheadApplied $60,000; credit Work-in-Process Inventory $60,000
C. Debit Work-in-Process Inventory $60,000; credit OverheadApplied $60,000
D. Debit Work-in-Process Inventory $80,000; credit OverheadApplied $80,000