Question 1

When a job is completed, the goods are transferred from the production department to the finished goods warehouse and the journal entry would include a debit to Work in Process.

Accepted Answer

A) True 
 B)False

Question 2

On March 1, Metevier Corporation had $37,000 of raw materials on hand. During the month, the company purchased an additional $62,000 of raw materials. During March, $69,000 of raw materials were requisitioned from the storeroom for use in production. These raw materials included both direct and indirect materials. The indirect materials totaled $6,000. The journal entry to record the requisition from the storeroom would include a:

Accepted Answer

A)  debit to Work in Process of $69,000
B)  debit to Work in Process of $63,000
C)  debit to Raw Materials of $69,000
D)  credit to Manufacturing Overhead of $6,000E) C) and D)
F) None of the above

Question 3

Pirkl Corporation has provided the following data for the month of March:   Required:
Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.

Accepted Answer

The answer of Pirkl Corporation has provided the following data...

Question 4

Manufacturing overhead is overapplied if actual manufacturing overhead costs for a period are greater than the amount of manufacturing overhead cost that was charged to Work in Process.

Accepted Answer

A) True 
 B)False

Exam 2: Job-Order Costing

Correct Answer
verified

Pirkl Corporation has provided the following data for the month of March: Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.

Correct Answer
verified

When a job is completed, the goods are transferred from the production department to the finished goods warehouse and the journal entry would include a debit to Work in Process.

Correct Answer
verified

Manufacturing overhead is overapplied if actual manufacturing overhead costs for a period are greater than the amount of manufacturing overhead cost that was charged to Work in Process.

Correct Answer
verified

Exam 2: Job-Order Costing

Correct AnswerverifiedShow Answer

Pirkl Corporation has provided the following data for the month of March: Required: Prepare a Schedule of Cost of Goods Manufactured and a Schedule of Cost of Goods Sold.

Correct AnswerverifiedShow Answer

When a job is completed, the goods are transferred from the production department to the finished goods warehouse and the journal entry would include a debit to Work in Process.

Correct AnswerverifiedShow Answer

Manufacturing overhead is overapplied if actual manufacturing overhead costs for a period are greater than the amount of manufacturing overhead cost that was charged to Work in Process.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified