When Factory Payroll Costs for Labor Are Allocated in a Job

question 156

Multiple Choice

When factory payroll costs for labor are allocated in a job cost accounting system:

• A) Factory Payroll is debited and Goods in Process Inventory is credited.
• B) Goods in Process Inventory and Factory Overhead are debited and Factory Payroll is credited.
• C) Cost of Goods Manufactured is debited and Direct Labor is credited.
• D) Direct Labor and Indirect Labor are debited and Factory Payroll is credited.
• E) Goods in Process Inventory is debited and Factory Payroll is credited.

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Definitions:

Standard Deviation

A measure of the amount of variation or dispersion of a set of values, indicating how much the values deviate from the mean of the set.

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A statistical measure in basketball that represents the ratio of free throws made to the total number of free throw attempts.

Tournament

A competition involving a relatively large number of competitors, all participating in a sport or game.

Standard Deviation

An indicator that assesses the degree to which data values are spread out or clustered around the mean.