ACCT 505 Course Great Wisdom / tutorialrank.com ACCT 505 Course Great Wisdom / tutorialrank.com | Page 7

$25,560
Units completed and transferred to next Department during October
44,000

What was the materials cost of work in process at on October 31?
4. Question :
(TCO F) In a job-order costing system, the use of direct materials that
have been previously purchased is recorded as a debit to:
5. Question :
(TCO F) During December at Ingrim Corporation, $74,000 of raw
materials were requisitioned from the storeroom for use in production.
These raw materials included both direct and indirect materials. The
indirect materials totaled $6,000. The journal entry to record the
requisition from the storeroom would include a:
6. Question :
(TCO F) Valles Corporation had $22,000 of raw materials on hand on
February 1. During the month, the company purchased an additional
$75,000 of raw materials. The journal entry to record the purchase of
raw materials would include a:
1. Question :
(TCO F) Whether a company uses process costing or job-order
costing depends on its industry. A number of companies in different
industries are listed below: