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?
28.
Which of the following documents is used as the basis for posting to the direct labor
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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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