Which of the Following Is Credited When a Job Is

question 137

Multiple Choice

Which of the following is credited when a job is completed?

• A)Cost of Goods Sold
• B)Work in Process Inventory
• C)Manufacturing Overhead
• D)Finished Goods Inventory

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Definitions:

Direct Labor Efficiency Variance

A measure of the difference between the actual hours worked and the standard hours expected for the production accomplished.

Favorable

A term used in budgeting and accounting to describe a financial result or variance that is better than expected or budgeted.

Flexible Budget

A budget that adjusts or scales according to changes in the volume of activity, revenue, or other factors.

Sales Variance

The difference between actual sales and budgeted or forecasted sales, analyzed to understand revenue performance.