question 2 - debit Manufacturi (d) credit Raw Materi...

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  Raw materials are assigned to a job when: (a)   the job is sold. (b)   the materials are (c)   the materials are (d)   the materials are storeroom. Answer: (d)  the materials are issued by the materials storeroom. The source documents for assigning costs to job cost sheets are: (a)   invoices, time tickets, and the predetermined  overhead rate. (b)   materials requisition slips, time tickets, and the  actual overhead costs. (c)   materials requisition slips, payroll register, and the  predetermined overhead rate. (d)   materials requisition slips, time tickets, and the  predetermined overhead rate. Answer: (d)   materials requisition slips, time tickets, and the  predetermined overhead rate. In recording the issuance of raw materials in a job  order cost system, it would be  incorrect  to: (a)   debit Work in Pro (b)   debit Finished Go (c)  
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Unformatted text preview: debit Manufacturi (d) credit Raw Materi Answer: (b) debit Finished Goods Inventory. The entry when direct factory labor is assigned to jobs is a debit to: (a) Work in Process Inventory and a credit to Factory Labor. (b) Manufacturing Overhead and a credit to Factory Labor. (c) Factory Labor and a credit to Manufacturing Overhead. (d) Factory Labor and a credit to Work in Process Inventory. Answer: (a) Work in Process Inventory and a credit to Factory Labor. The formula for computing the predetermined manufacturing overhead rate is estimated annual overhead costs divided by an expected annual operating activity, expressed as: (a) direct labor cost. (b) direct labor hours. (c) machine hours. (d) any of the above. Answer: (d) any of the above....
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This note was uploaded on 11/08/2011 for the course ACCOUNTING ac 202 taught by Professor - during the Fall '11 term at Montgomery.

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question 2 - debit Manufacturi (d) credit Raw Materi...

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