Which Account Is Credited in a Journal Entry to Record

question 248

Multiple Choice

Which account is credited in a journal entry to record depreciation on machinery?

• A)Depreciation Expense
• B)Accumulated Depreciation
• C)Machinery
• D)Cash

Allocate manufacturing overhead to specific jobs based on relevant activity bases.

Interpret the effects of using machine-hours versus direct labor-hours as allocation bases.

Calculate the total estimated manufacturing overhead for production departments.

Understand and apply the concept of activity-based costing (ABC).

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Definitions:

Market-product Grid

The market-product grid is a framework used to identify and assess potential markets and products, facilitating strategic decision-making concerning where to focus efforts and resources.

Discretionary Income

The money that remains after paying for taxes and necessities.

Disposable Income

The money a consumer has left after paying taxes to use for necessities such as food, housing, clothing, and transportation.

Market Segmentation

The strategy of dividing a broad target market into subsets of consumers with common needs or characteristics, targeting each with a specific marketing mix.