Witty, Inc

question 4

Multiple Choice

Witty, Inc. uses a job-order cost system and had the following data available for 20X1.

-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 $256,000.
• C) credit to Finished Goods Inventory for $256,000.
• D) credit to Cost of Goods Sold for $292,000.

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Definitions:

Labor Movement

A broad social movement seeking to improve rights, wages, and working conditions for workers through collective action and labor unions.

Multinational Corporations

Companies that operate in several countries around the world, managing production or delivering services in more than one country.

Labor Standards

Regulations and laws that establish the minimum requirements for working conditions, including hours of work, wages, safety, and health protections for workers.

ILO

The International Labour Organization, a UN agency focused on setting international labor standards and promoting decent work conditions.