Completed but unsold units for a manufacturing firm would be included in which of the following...
Completed but unsold units for a manufacturing firm would be included in which of the following accounts
Question 10 options:
A)
Finished Goods Inventory
B)
Pending Sale Inventory
C)
Work in Process Inventory
D)
Materials Inventory
Homework Answers
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Completed but unsold units for a manufacturing firm would be
included in which of the following...
5.) Which of the following is an example of a direct cost? A.) Raw materials applied...
5.) Which of the following is an example of a direct cost? A.) Raw materials applied to a house during construction. B.) Labor for the sales department, trying to specifically sale house 1. C.) Labor for the cleanup crew. D.) Materials in the warehouse that is divided into the different projects (i.e. house 1, house 2, etc.) 6.) Which of the following accounts represents the costs associated with goods that were completed and sold? A.) Cost of Goods Sold. B.)...
1. I have completed 10000 units of inventory . I would call this 10,000 Beginning work...
1. I have completed 10000 units of inventory . I would call this 10,000 Beginning work in process Cost of goods sold Finished goods inventory Ending work in process 2. I have sold 10000 units of inventory. I would call this 10,000 Ending work in process Cost of sold goods Beginning work in process Finished work in process 3. I made 10,000 units of inventory. I used direct materials of $60,000, direct labor of $40,000 and had applied factory overhead...
Which of the following is not an example of an inventory account a manufacturing firm might...
Which of the following is not an example of an inventory account a manufacturing firm might use? O Work in process inventory. O Finished goods inventory. O Merchandise inventory. O Raw materials inventory.
4. Which of the following is correctly included in the entry to record the sale of...
4. Which of the following is correctly included in the entry to record the sale of finished goods? CREDIT to Finished Goods Inventory CREDIT to Work in Process Inventory CREDIT to Cost of Goods Sold DEBIT to Sales Revenue DEBIT to Accounts Payable
During April, the production department of a process manufacturing system completed a number of units of...
During April, the production department of a process manufacturing
system completed a number of units of a product transferred them to
finished goods. these transferred units, 60, 00 were in process in
the production department at the beginning of April and 240.000
were started and completed in April. April's beginning inventory
units were 60% complete with respect to materials and 40% complete
with respect to conversion. At the end of April, 82,000 additional
units were in process in the production...
Explanation not necessary In a process cost system, factory depreciation expense incurred is debited to A...
Explanation not necessary In a process cost system, factory depreciation expense incurred is debited to A work in process inventory B. manufacturing overhead C. finished goods inventory D. cost of goods sold A process costing system is most likely used by which of the following? A a hospital B. a paper manufacturing company C. airplane manufacturing D. an accounting firm specializing in tax returns Which of the following is the step in which materials, labor, and overhead are detailed? A....
which of the following is considered a variable manufacturing overhead cost? Factory rent Direct labor c...
which of the following is considered a variable manufacturing overhead cost? Factory rent Direct labor c Factory utilities d. Direct materials Which of the following costs is considered a direct cost? Depreciation on machinery b. Glue used in the manufacturing process c. The superintendent's salary d. Factory insurance c. Assembly-line labor costs The cost of rent for a manufacturing plant is generally considered to be a: Fixed cost Overhead cost No Yes No No No Yes Yes Yes When production...
1. Which of the following products would have its costs accumulated using a process costing system?...
1. Which of the following products would have its costs accumulated using a process costing system? A. Airplanes B. Luxury yachts C. Dinner at a restaurant D. Fishing supplies 2. Which of the following companies would use a job costing system? A Health care provider B. Crayon manufacturing company C. Potato chip manufacturing corporation D. Spring water bottling company 3 Which of the following is used to document the manufacturing costs of direct materials, direct labor, and manufacturing overhead? A...
During April, the production department of a process manufacturing system completed a number of units of...
During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 60,000 were in process in the production department at the beginning of April and 240,000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the end of April, 82,000 additional units were in process in the...
Goods that have been started in the manufacturing process but are not yet complete are included...
Goods that have been started in the manufacturing process but are not yet complete are included in the A. Raw Materials Inventory account B. Cost of Goods Sold account OC. Finished Goods Inventory account D. Work-in-Process Inventory account
5.) Which of the following is an example of a direct cost? A.) Raw materials applied to a house during construction. B.) Labor for the sales department, trying to specifically sale house 1. C.) Labor for the cleanup crew. D.) Materials in the warehouse that is divided into the different projects (i.e. house 1, house 2, etc.) 6.) Which of the following accounts represents the costs associated with goods that were completed and sold? A.) Cost of Goods Sold. B.)...
Which of the following is not an example of an inventory account a manufacturing firm might use? O Work in process inventory. O Finished goods inventory. O Merchandise inventory. O Raw materials inventory.
4. Which of the following is correctly included in the entry to record the sale of finished goods? CREDIT to Finished Goods Inventory CREDIT to Work in Process Inventory CREDIT to Cost of Goods Sold DEBIT to Sales Revenue DEBIT to Accounts Payable
During April, the production department of a process manufacturing
system completed a number of units of a product transferred them to
finished goods. these transferred units, 60, 00 were in process in
the production department at the beginning of April and 240.000
were started and completed in April. April's beginning inventory
units were 60% complete with respect to materials and 40% complete
with respect to conversion. At the end of April, 82,000 additional
units were in process in the production...
Explanation not necessary In a process cost system, factory depreciation expense incurred is debited to A work in process inventory B. manufacturing overhead C. finished goods inventory D. cost of goods sold A process costing system is most likely used by which of the following? A a hospital B. a paper manufacturing company C. airplane manufacturing D. an accounting firm specializing in tax returns Which of the following is the step in which materials, labor, and overhead are detailed? A....
which of the following is considered a variable manufacturing overhead cost? Factory rent Direct labor c Factory utilities d. Direct materials Which of the following costs is considered a direct cost? Depreciation on machinery b. Glue used in the manufacturing process c. The superintendent's salary d. Factory insurance c. Assembly-line labor costs The cost of rent for a manufacturing plant is generally considered to be a: Fixed cost Overhead cost No Yes No No No Yes Yes Yes When production...
1. Which of the following products would have its costs accumulated using a process costing system? A. Airplanes B. Luxury yachts C. Dinner at a restaurant D. Fishing supplies 2. Which of the following companies would use a job costing system? A Health care provider B. Crayon manufacturing company C. Potato chip manufacturing corporation D. Spring water bottling company 3 Which of the following is used to document the manufacturing costs of direct materials, direct labor, and manufacturing overhead? A...
During April, the production department of a process manufacturing system completed a number of units of a product and transferred them to finished goods. Of these transferred units, 60,000 were in process in the production department at the beginning of April and 240,000 were started and completed in April. April's beginning inventory units were 60% complete with respect to materials and 40% complete with respect to conversion. At the end of April, 82,000 additional units were in process in the...
Goods that have been started in the manufacturing process but are not yet complete are included in the A. Raw Materials Inventory account B. Cost of Goods Sold account OC. Finished Goods Inventory account D. Work-in-Process Inventory account
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