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9. It's two o'clock in the morning and you've been studying job-order costing for the past three hours. You drift off to sleep and in your first dream you visit JOB-ORDER COSTING LAND. You are a direct labor peso and are traveling through a giant ledger. By the time you finish your journey, which accounts will you travel through and in what order? a. Work in process, Cost of goods manufactured, Finished goods, and Cost of goods sold. b. Direct labor, Work in process, Finished goods, and Cost of goods sold. c. Work in process, Finished goods, and Cost of goods sold. d. Manufacturing overhead, Work in process, Cost of goods manufactured, and Finished goods. e. Direct labor, Work in process, Finished goods, Cost of goods manufactured, and Cost of goods sold.

9. It's two o'clock in the morning and you've been studying job-order costing for the past three hours. You drift off to sleep and in your first dream you visit JOB-ORDER COSTING LAND. You are a direct labor peso and are traveling through a giant ledger. By the time you finish your journey, which accounts will you travel through and in what order? a. Work in process, Cost of goods manufactured, Finished goods, and Cost of goods sold. b. Direct labor, Work in process, Finished goods, and Cost of goods sold. c. Work in process, Finished goods, and Cost of goods sold. d. Manufacturing overhead, Work in process, Cost of goods manufactured, and Finished goods. e. Direct labor, Work in process, Finished goods, Cost of goods manufactured, and Cost of goods sold.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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6. Which of the following is the basic document that is used to accumulate the cost of each order in job order costing: a. Invoice b. Purchase order c. Requisition sheet d. Job Cost sheet 7. What is the best cost accumulation procedure to use when many batches, each differing as to product specification, are produced? a. Job order b. Process c. Actual d. Standard 8. The most common treatment of under-or overapplied overhead is to close it to: a. Work in process b. Retained Eamings c. Cost of Goods sold d. Finished goods 9. It's two o'clock in the morning and you've been studying job-order costing for the past three hours. You drift off to sleep and in your first dream you visit JOB-ORDER COSTING LAND. You are a direct labor peso and are traveling through a giant ledger. By the time you finish your journey, which accounts will you travel through and in what order? a. Work in process, Cost of goods manufactured, Finished goods, and Cost of goods sold. b. Direct labor, Work in process, Finished goods, and Cost of goods sold. c. Work in process, Finished goods, and Cost of goods sold. d. Manufacturing overhead, Work in process, Cost of goods manufactured, and Finished goods. e. Direct labor, Work in process, Finished goods, Cost of goods manufactured, and Cost of goods sold.
Transcribed Image Text:6. Which of the following is the basic document that is used to accumulate the cost of each order in job order costing: a. Invoice b. Purchase order c. Requisition sheet d. Job Cost sheet 7. What is the best cost accumulation procedure to use when many batches, each differing as to product specification, are produced? a. Job order b. Process c. Actual d. Standard 8. The most common treatment of under-or overapplied overhead is to close it to: a. Work in process b. Retained Eamings c. Cost of Goods sold d. Finished goods 9. It's two o'clock in the morning and you've been studying job-order costing for the past three hours. You drift off to sleep and in your first dream you visit JOB-ORDER COSTING LAND. You are a direct labor peso and are traveling through a giant ledger. By the time you finish your journey, which accounts will you travel through and in what order? a. Work in process, Cost of goods manufactured, Finished goods, and Cost of goods sold. b. Direct labor, Work in process, Finished goods, and Cost of goods sold. c. Work in process, Finished goods, and Cost of goods sold. d. Manufacturing overhead, Work in process, Cost of goods manufactured, and Finished goods. e. Direct labor, Work in process, Finished goods, Cost of goods manufactured, and Cost of goods sold.
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