Answer the Following Questions Using the Information Below

question 65

Multiple Choice

Answer the following questions using the information below:
Jansen Corporation uses job costing in its' metal fabrication plant.During February Job 117 was completed and the scrap generated was not usable by other jobs.Job 124 was also completed in February and the scrap created was usable by other jobs.
-Which of the following is the correct journal entry if Job 124 created scrap that is common to all jobs?

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Definitions:

Seller

An individual or entity that offers goods or services in exchange for payment or other compensation.

Buyer

An individual or organization that purchases goods or services from another entity.

Tax

Mandatory financial charges imposed by a government on individuals, corporations, or other entities to fund public expenditures and services.

Sellers

Individuals or entities that offer goods or services in exchange for payment or other forms of compensation.