ACCT 505 help A Guide to career/uophelp.com ACCT 505 help A Guide to career/uophelp.com | Page 58

$4.584
Question 4. Question : (TCO B) In a job-order costing system, the use of
direct materials that have been previously purchased is recorded as a
debit to
Student Answer: raw materials.
finished goods.
work in process.
manufacturing overhead.
Question 5. Question : (TCO B) During October, Crusan Corporation
incurred $62,000 of direct labor costs and $4,000 of indirect labor costs.
The journal entry to record the accrual of these wages would include a
Student Answer: debit to work in process of $66,000.
credit to work in process of $66,000.
credit to work in process of $62,000.
debit to work in process of $62,000.
Question 6. Question : (TCO B) During February, Degan Inc. transferred
$60,000 from work in process to finished goods and recorded a cost of
goods sold of $65,000. The journal entries to record these transactions
would include a
Student Answer: debit to finished goods of $65,000.
credit to cost of goods sold of $65,000.
credit to work in process of $60,000.
credit to finished goods of $60,000.
* Times are displayed in (GMT-07:00) Mountain Time (US & Canada)
Grading Summary
These are the automatically computed results of your exam. Grades for
essay questions, and comments from your instructor, are in the “Details”
section below. Date Taken: 5/15/2016
Time Spent: 1 h , 27 min , 22 secs
Points Received: 71 / 90 (78.9%)