The Journal Entry to Record the Completion of a Job

question 34

Multiple Choice

The journal entry to record the completion of a job in a job order cost system is

• A)a
• B)b
• C)c
• D)d
• E)e

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Definitions:

Reduced Cost

In linear programming, the amount by which the objective function coefficient of a variable must decrease before that variable's value increases in the optimal solution.

Bounded Variable

A variable that has upper and lower limits.

Shadow Price

A monetary value assigned to currently unpriced goods or services, reflecting their worth in terms of opportunity cost or their valuation in a constrained optimization problem.

Reduced Cost

In optimization, it's the difference between the cost of a non-basic variable and its contribution to the objective function, used in linear programming.