Managerial QUizlet

When units are completed, the cost associated with the job is debited to which account?

Finished Goods Inventory

When units are sold, the cost associated with the units is credited to which account?

Finished Goods Inventory

Which of the following would be used to record the property taxes on a factory building?

Manufacturing overhead would be debited

Which of the following would be used to apply manufacturing overhead to production for the period?

When manufacturing overhead is applied to production, Work in Process Inventory is debited and the Manufacturing Overhead account is credited.

Cost of goods manufactured is the amount of cost transferred out of

Work in Process Inventory and into Finished Goods Inventory.

When units are completed, the cost associated with the job is credited to which account?

Work in process. ---------------------------------------------------------------------------------------------------------When a job is completed, its cost is transferred from Work in Process Inventory (with a credit) to Finished Goods Inventory (with a debit).

Overapplied OH is

debited to manufacturing overhead.

Cost of goods sold is the amount of cost transferred

out of Finished Goods Inventory and into Cost of Goods Sold.

When applied overhead is less than actual overhead, the OH is

underapplied and is debited to the cost of goods sold.