Which One of the Following Is NEVER Part of Recording

question 121

Multiple Choice

Which one of the following is NEVER part of recording the issuance of raw materials in a job-order cost system?

• A)debit Work in Process Inventory
• B)debit Finished Goods Inventory
• C)debit Manufacturing Overhead
• D)credit Raw Materials Inventory

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Definitions:

Cost of Goods Sold

The direct expenses associated with manufacturing the products sold by a business.

Beginning Inventory

The cost of commodities available for trading at the commencement of an accounting interval.

Ending Inventory

The value of goods available for sale at the end of an accounting period, calculated by adding purchases to beginning inventory and subtracting the cost of goods sold.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period.