What Journal Entry Should Be Made When a Job Is

question 76

Multiple Choice

What journal entry should be made when a job is completed and all costs have been accumulated on a job cost sheet?

• A)A debit to Finished Goods Inventory, and a credit to Work in Process Inventory
• B)A debit to Work in Process Inventory, and a credit to Direct Materials, Direct Labour, and Manufacturing Overhead
• C)A debit to Finished Goods Inventory and a credit to Direct Materials, Direct Labour, and Manufacturing Overhead
• D)A debit to Cost of Goods Sold Inventory, and a credit to Work in Process Inventory

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Definitions:

Total Compensation System

The complete package of financial and non-financial benefits provided to employees, including salaries, bonuses, health insurance, and retirement plans.

Organizational Environment

The sum of internal and external factors that affect an organization's operation, including economic, technological, social, and political influences.

Pay Grade

A defined level within an organization's pay structure that determines the amount of compensation an employee receives.

Matching the Market

A compensation strategy where an organization ensures its pay levels for employees are competitive with those offered by other employers in the same industry.