Job order costing : Job order costing is applied to the businesses which manufactures products or provide services according to the client’s order. As its names suggest, Job order costing is done for a job. Process Costing System: As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing. To indicate: The Journal entries to record the Sales and Cost of Goods sold.

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Answer 1

Question

Chapter 2, Problem 14E

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactures products or provide services according to the client’s order. As its names suggest, Job order costing is done for a job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing.

To indicate:

The Journal entries to record the Sales and Cost of Goods sold.

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Answer 2

Question

Chapter 2, Problem 14E

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactures products or provide services according to the client’s order. As its names suggest, Job order costing is done for a job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing.

To indicate:

The Journal entries to record the Sales and Cost of Goods sold.

Expert Solution & Answer

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Answer 3

Question

Chapter 2, Problem 14E

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactures products or provide services according to the client’s order. As its names suggest, Job order costing is done for a job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing.

To indicate:

The Journal entries to record the Sales and Cost of Goods sold.

Expert Solution & Answer

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Answer 4

Question

Chapter 2, Problem 14E

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactures products or provide services according to the client’s order. As its names suggest, Job order costing is done for a job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing.

To indicate:

The Journal entries to record the Sales and Cost of Goods sold.

Expert Solution & Answer

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Answer 5

Chapter 2, Problem 14E

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactures products or provide services according to the client’s order. As its names suggest, Job order costing is done for a job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing.

To indicate:

The Journal entries to record the Sales and Cost of Goods sold.

Answer 6

Chapter 2, Problem 14E

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactures products or provide services according to the client’s order. As its names suggest, Job order costing is done for a job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing.

To indicate:

The Journal entries to record the Sales and Cost of Goods sold.

Answer 7

Chapter 2, Problem 14E

To determine

Concept introduction:

Job order costing:

Job order costing is applied to the businesses which manufactures products or provide services according to the client’s order. As its names suggest, Job order costing is done for a job.

Process Costing System:

As its name suggests, process costing system is the branch of cost accounting which is applied where production of a product takes more than one processes to complete for example the production of shoes from leather goes through cutting, stitching and policing.

To indicate:

The Journal entries to record the Sales and Cost of Goods sold.

Answer 8

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Answer 9

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Answer 10

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Answer 11

Ch. 2 - What is the difference between job order and...Ch. 2 - What types of companies are likely to use job...Ch. 2 - What types companies are likely to use process...Ch. 2 - Many service industries use job order costing to...Ch. 2 - Prob. 5Q Ch. 2 - Prob. 6Q Ch. 2 - Prob. 7Q Ch. 2 - Prob. 8Q Ch. 2 - Prob. 9Q Ch. 2 - Prob. 10Q

Solution Summary: The author explains Job order costing is applied to businesses which manufacture products or provide services according to the client’s order. The Journal entries to record the Sales and Cost of Goods sold are explained.

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Chapter 2 Solutions