In a Job-Order Costing System, Direct Labor Costs Are Ordinarily

question 67

Multiple Choice

In a job-order costing system, direct labor costs are ordinarily charged to:

• A)Manufacturing Overhead Incurred
• B)Cost of Goods Sold
• C)Finished Goods
• D)Job cost sheets

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Definitions:

Long-Term Liabilities

Obligations or debts a company is responsible for paying beyond one year from the date of the balance sheet.

Current Asset

Assets that are expected to be converted into cash, sold, or consumed within a year or within the operating cycle of the business, whichever is longer.

Current Liability

A company's debts or obligations that are due within one year, appearing on the company's balance sheet and including short-term borrowing, accounts payable, and other liabilities.

Revenue

The total amount of money received by a company for goods sold or services provided during a certain time period.