National is a manufacturing company that uses job order costing. During the period, the cost of...
National is a manufacturing company that uses job order costing. During the period, the cost of goods manufactured and transferred to finished goods was $378,000. The entry to record the transfer is:
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Homework Answers
Correct Option :
| a. |
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Explanation : Under job order costing , cost of goods manufactured is debited to work in progress account and once job is completed , work in progress amount is transferred to finished goods inventory by passing above entry.
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National is a manufacturing company that uses job order costing.
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Chapter 2. Job Order Costing Tyler Tooling Company uses a job order cost system with overhead...
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Chapter 2. Job Order Costing
Tyler Tooling Company uses a job order cost system with overhead applied to products on the basis of machine hours. For the total machine hours at 63,000. During the first month of operations, the company worked on three jobs and recorded the following a r, the company estimated its total manufacturing overhead cost at $245,700 and irect materials cost, direct labor cost, and machine hours for each job Job 101 Job 102 S 7,100 S...
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(ignore any accounts that are not listed).
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