The Total of the Dollar Amounts on the Job Order

question 47

Multiple Choice

The total of the dollar amounts on the job order cards for jobs that had not been completed would be equal to:

• A) costs of goods completed.
• B) balance in the work in process inventory account.
• C) balance in the finished goods inventory account.
• D) cost of sales account.

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Definitions:

Income Summary

An account used in the closing process that summarizes the revenues and expenses for an accounting period, ultimately reflecting the period's net income or loss.