Question: Answer the following multiple choice questions. There is only one correct answer for each question. 4) Which of the following entries would correctly record the

Answer the following multiple choice questions. There is only one correct answer for each question. 4) Which of the following entries would correctly record the use of direct and indirect labor in production by a manufacturing company, assuming employees are not paid right away? A. Work in Process (DL) XXX Manufacturing Overhead (IDL) Wages Payable XXX XXX B. Work in Process (IDL) XXX Manufacturing Overhead (DL) XXX 7 L L Wages Payable XXX C. Work in Process (DL) XXX Wages Payable (IDL) XXX Manufacturing Overhead XXX D. Work in Process (IDL) XXX Manufacturing Overhead (DL) Raw Materials XXX XXX 5) Which form is NOT needed in costing each job? A. Materials Requisition Form B. Employee Time Ticket C. Overhead Application Form D. Job Cost Sheet 6) How should one account for nonmanufacturing (period) costs? A. Compute a predetermined rate and apply the period costs using a cost allocation base that sensibly drives period costs B. Debit manufacturing overhead, credit cash or payable C. Debit cost of goods sold, credit cash or payable D. Expense them as they are incurred, credit cash or payable
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