Which of the following statements is true of costing systems? A job order costing system would be used by manufacturers of baking utensils. An accounting firm would likely use a job order costing system. A construction company would likely use a process costing system. A process costing system would be used by manufacturers of custom-made perfumes. At the beginning of the year, Springfield Manufacturing had the following account balances: debit of $428, 600 credit of $454, 600 debit of $454, 600 debit of $441, 600 Unix Works purchased raw materials amounting to $126,000 on account and $16,000 for cash. The materials will be used to manufacture upholstery for furniture manufacturers on a contract basis. Which of the following journal entries correctly records this transaction? Finished Goods Inventory Accounts Payable Raw Materials Inventory Cash Accounts Payable Accounts Payable Cash Raw Materials Inventory Work-in-Process Inventory Accounts Payable On June 30, Coral, Inc. finished Job 750 with total job costs of $4, 800, and transferred the costs to Finished Goods Inventory. On July 6, it completed the sale of the goods to a customer for $5, 600 cash. Which of the following is the correct journal entry to record the cost of goods sold? debit Work - in - Process Inventory $4, 800 and credit Cost of Goods Sold $4, 800 debit Finished Goods Inventory $4, 800 and credit Cost of Goods Sold $4, 800 debit Cost of Goods Sold $4, 800 and credit Finished Goods Inventory $4, 800 debit Cost of Goods Sold $4, 800 and credit Work - in - Process Inventory $4, 800