In a Job-Order Costing System,when a Job Remains Incomplete at the End

question 49

Multiple Choice

In a job-order costing system,when a job remains incomplete at the end of a period,how is the amount of overhead cost that has been applied to that job treated?

• A) It is deducted on the Income Statement as overapplied overhead.
• B) It is closed out to Cost of Goods Sold.
• C) It is transferred to Finished Goods.
• D) It is part of the ending balance of the Work in Process inventory account.

---

Definitions:

Fundamental Attribution Error

The cognitive bias that leads individuals to overemphasize personal traits and underestimate the influence of situational factors when explaining other people's behavior.

Halo Effect

The halo effect is a cognitive bias where an observer's overall impression of a person, company, or brand influences their feelings and thoughts about that entity's character or properties.

Distinctiveness

The quality or state of being easily distinguishable from others due to unique characteristics or features.

Consistency

The quality of always acting or performing in a similar manner over time.