The Total of the Dollar Amounts on the Job Order

question 87

Multiple Choice

The total of the dollar amounts on the job order cost cards that have not been completed would be equal to the

• A) cost of goods completed.
• B) balance in the Finished Goods Inventory account.
• C) Cost of Goods Sold account.
• D) balance in the Work in Process Inventory account.

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Definitions:

Price

The amount of money expected, required, or given in exchange for an item or service in a market.

Normal Good

A good for which demand increases as the income of consumers increases, and vice versa.

Income

Revenue generated on a regular basis from labor or investments.

Demand Curve

A graph showing how the quantity demanded of a commodity changes as its price varies.