Question

de $600 of direct materials and stoof indirect materials to production 17) The journal entry to issue $600 of direct mat involves debit(s) to the A) Work-in-Process Inventory account for B) Manufacturing Overhead account for 5630 C) Work-in-Process Inventory account for $600 and D) Work-in-Process Inventory account for $630 35 Inventory account for $600 and Finished Goods Inventory account for 530 ocess Inventory account for and Manufacturing Overhead account for $250 18) The journal entry to record indirect labor costs incurred involves a debit to the A) Manufacturing Overhead account B) Wages Payable account C) Finished Goods Inventory account D) Work-in-Process Inventory account Chapter 20 19) Which of the following businesses is most likely to use a process costing system? A) an accounting firm B) a law firm C) a soda manufacturer D) a construction company 20) In a process costing system A) separate work-in-process inventory accounts are maintained for each process or department B) work-in-process inventory employs one general ledger account with a subsidiary ledger C) a job cost record is maintained for each job D) costs are transferred when jobs are complete 21) Which of the following statements correctly describes the term "conversion costs"? A) the cost to convert finished goods to sales to customers B) the cost incurred for direct and indirect materials during production C) the cost of direct materials, direct labor, and manufacturing overhead costs incurred during production D) the cost of direct labor combined with manufacturing overhead 22) A report prepared by a processing department for equivalent units of production, proc and the assignment of those costs to the completed and in-process units is called a(n) A) organizational report B) equivalent units report C) job costing report D) production cost report 23) The costs that were incurred in a previous process and brought into a later process as product's cost are called_ _costs. A) transferred in B) transferred out C) accounted for D) to account for

Answer 1

17. C. Work in process Inventory $600 and Manufacturing Overhead Account for $30

Account Title	Debit	Credit
Work in process	600
Manufacturing Overhead	30
Raw Material		630

18. A. Manufacturing Overhead

The cost of Indirect labor increases manufacturing overhead.

19. C. Soda Manufacturer

20. A. Separate work in process inventory accounts are maintained for each process or department

21. D the cost of direct labor combined with manufacturing overhead.

As per HOMEWORKLIB POLICY only first mentioned question is required to be done, however i have answered next four also.