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

question 13

Multiple Choice

Sandy Company uses a job-order-cost system and had the following data available: $$\begin{array} { l r } \text { Beginning direct-materials inventory } & \$ 26,000 \\\text { Beginning WIP inventory } & 64,000 \\\text { Beginning finished-goods inventory } & 58,000 \\\text { Direct materials purchased on account } & 148,000 \\\text { Direct materials requisitioned } & 82,000 \\\text { Direct-labor cost incurred } & 130,000 \\\text { Factory overhead incurred } & 146,000 \\\text { Cost of goods completed } & 292,000 \\\text { Cost of goods sold } & 260,000 \\\text { Overhead applicati on rate } & 125 \% \\\quad \text { as a percent of direct-labor cost) } &\end{array}$$ The journal entry to record the sale of all jobs would include a _____.

• A)debit to Finished-Goods Inventory for $292,000
• B)credit to WIP Inventory for $260,000
• C)credit to Finished-Goods Inventory for $260,000
• D)credit to Cost of Goods Sold for $292,000

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Definitions:

Objective Attributes

Observable and measurable product features that can influence consumer decisions, such as price, quality, and functionality.

Buyer-seller Relationships

The ongoing interactions and engagements between buyers and sellers, which can influence the buyer's satisfaction, loyalty, and repeat purchase behavior.

Lengthy Negotiations

Extended discussions and bargaining processes between parties with the goal of reaching an agreement on particular terms or conditions.

Delivery Schedules

Timetables established by suppliers for the delivery of products or services to customers.