Jack Company Uses a Job-Order-Cost System and Had the Following

question 148

Multiple Choice

Jack Company uses a job-order-cost system and had the following data available: $$\begin{array} { l r } \text { Beginning direct-materials inventory } & \$ 26,000 \\\text { Beginning WIP inventory } & 64,000 \\\text { Beginning finished-goods inventory } & 58,000 \\\text { Direct materials purchased on account } & 148,000 \\\text { Direct materials requisitioned } & 82,000 \\\text { Direct-labor cost incurred } & 130,000 \\\text { Factory overhead incurred } & 146,000 \\\text { Cost of goods completed } & 292,000 \\\text { Cost of goods sold } & 256,000 \\\text { Overhead application rate } & 130 \% \\\quad \text { as a percent of direct-labor cost) } &\end{array}$$ The journal entry to record the factory overhead costs incurred would include a _____.

• A)debit to Factory Department Overhead Control for $146,000
• B)credit to Factory Department Overhead Control for $169,000
• C)debit to WIP Inventory for $146,000
• D)credit to WIP Inventory for $169,000

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Definitions:

Quantity

A property that can exist as a multitude or magnitude, making it measurable in terms of number, amount, or size.

Mental Rotation

This term refers to the cognitive process of mentally rotating spatial objects or figures to recognize them or to see how they would appear from different angles.

Complex Polygons

Geometric figures with three or more sides, characterized by their intricate shapes, angles, and sometimes non-convexity.

Mirror Image

A mirror image is a reflected duplication of an object that appears identical but reversed, often used metaphorically to describe things that are very similar yet opposite.