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Chapter 07 Job Costing Answer Key
True / False Questions
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Multiple Choice Questions
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25.
The journal entry to record the completion of a job in a job order cost system is:
A.
Work-In-Process Inventory
xxx
Materials Inventory
xxx
B.
Materials Inventory
xxx
Purchases
xxx
C.
Cost of Goods Sold
xxx
Finished Goods Inventory
xxx
D.
Finished Goods Inventory
xxx
Work-In-Process Inventory
xxx
26.
The journal entry to record requisitions of material for new jobs started during the period
is:
A.
Work-In-Process Inventory
xxx
Materials Inventory
xxx
B.
Materials Inventory
xxx
Purchases
xxx
C.
Cost of Goods Sold
xxx
Finished Goods Inventory
xxx
D.
Finished Goods Inventory
xxx
Work-In-Process Inventory
xxx
27.
Which of the following documents is used as the basis for posting to the direct materials
section of the job cost sheet?
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30.
Compute the Work-in-Process transferred to the finished goods warehouse on April 30
using the following information:
Work-In-Process Inventory, April 30
$175
Direct material purchased during April
150
Work-In-Process Inventory, April 1
200
Direct labor costs incurred
300
Manufacturing overhead costs
250
Direct materials used in production
125
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