In Both Job and Process Costing,the Journal Entry to Record

question 1

Multiple Choice

In both job and process costing,the journal entry to record predetermined overhead is as follows.

• A) Debit work in process and credit raw materials inventory,salaries payable and manufacturing overhead.
• B) Debit work in process and credit manufacturing overhead applied.
• C) Debit manufacturing overhead and credit work in process and raw materials inventory.
• D) Debit manufacturing overhead and credit work in process inventory.

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Definitions:

Scrambled Merchandising

A retail strategy where a store sells products beyond its traditional inventory or market, often to increase foot traffic or capitalize on cross-selling opportunities.

Unrelated Product Lines

A range of products that are marketed by a company that bear no significant relation to each other in terms of production, market, technology, or branding.

Intertype Competition

A competitive situation where businesses from different retail formats or industries compete for the same customers.

In-Store Restaurants

In-store restaurants refer to dining facilities located within retail stores or shopping centers, offering shoppers the convenience of eating without leaving the premises.