-Which Entry Transfers the Cost of Goods Manufactured for the

question 61

Multiple Choice

$\begin{array}{|l|l|l|}\hline \text { 1. Work in process } & \mathrm{XXX} & \\\hline \text { Manufacturing overhead } & \mathrm{XXX} & \\\hline \text { Wages payable } & & \mathrm{XXX} \\\hline \text { 2. Salary expense } & \mathrm{XXX} & \\\hline \text { Wages payable } & & \text { XXX } \\\hline \text { 3. Manufacturing overhead } & \mathrm{XXX} & \\\hline \text { Accumulated amortization } & & \mathrm{XXX} \\\hline \text { 4. Work in process } & \mathrm{XXX} & \\\hline \text { Raw materials } & & \mathrm{XXX} \\\hline \text { 5. Work in process } & \mathrm{XXX} & \\\hline \text { Manufacturing overhead } & & \mathrm{XXX} \\\hline \text { 6. Manufacturing overhead } & \mathrm{XXX} & \\\hline \text { Raw materials } & & \mathrm{XXX} \\\hline \text { 7. Finished goods } & \mathrm{XXX} & \\\hline \text { Work in process } & & \mathrm{XXX} \\\hline \text { 8. Raw materials } & \mathrm{XXX} & \\\hline \text { Accounts payable } & & \mathrm{XXX} \\\hline\end{array}$
-Which entry transfers the cost of goods manufactured for the period?

• A) 1.
• B) 4.
• C) 7.
• D) 5.

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Definitions:

Manufacturing Overhead

Refers to the indirect factory-related costs incurred when manufacturing a product or performing a service, which may include the cost of utilities, depreciation, and salaries of maintenance personnel.

Total Manufacturing Costs

The sum of all costs directly involved in the production of a good, including direct materials, direct labor, and manufacturing overhead.

Direct Materials

The specific raw materials used in the production of goods that can be directly attributed to the finished product, contributing directly to its manufacture.

Factory Depreciation

The decrease in value of manufacturing facilities and equipment over time due to wear and tear or obsolescence.