Under a Job Order Cost System of Accounting,the Entry to Distribute

question 12

Multiple Choice

Under a job order cost system of accounting,the entry to distribute payroll to the appropriate accounts would be:

• A)Debit-Payroll Credit-Wages Payable
• B)Debit-Work in Process Debit-Factory Overhead
• Debit-Selling and Administrative Expense
• Credit-Payroll
• C)Debit-Work in Process Debit-Finished Goods
• Debit-Cost of Goods Sold
• Credit-Payroll
• D)Debit-Work in Process Debit-Factory Overhead
• Debit-Selling and Administrative Expense
• Credit-Wages Payable

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Definitions:

Demand Schedule

A table or graph showing the quantity of a good that consumers are willing to purchase at each possible price.

Determinants of Demand

Factors such as price, income, preferences, and tastes that affect the buyers' willingness and ability to purchase goods and services.

Constant

A value or parameter that does not change within the context of a specific mathematical equation or scientific experiment.

Downward Sloping

Describes a line on a graph that represents a decrease in one variable in response to an increase in another, commonly used in economics to depict demand curves.