Question: Six selected transactions for the current month are indicated by letters in the following T accounts in a job order cost accounting system: Materials (a)
Six selected transactions for the current month are indicated by letters in the following T accounts in a job order cost accounting system:
| Materials | |
|---|---|
| (a) | |
| Wages Payable | |
|---|---|
| (b) | |
| Factory Overhead | ||
|---|---|---|
| (a) | (c) | |
| (b) | (f) | |
| Cost of Goods Sold | ||
|---|---|---|
| (e) | ||
| (f) | ||
| Work in Process | ||
|---|---|---|
| (a) | (d) | |
| (b) | ||
| (c) | ||
| (f) | ||
| Finished Goods | ||
|---|---|---|
| (d) | (e) | |
| (f) | ||
Describe each of the six transactions. SELECT ANSWER ONE OF THE A-B OR C AND ANSWER ALL PART OF QUESTIONS A B C D E F SECTION
| a. | a)Direct and indirect labor costs are incurred. b)Direct and indirect materials are issued. c)Factory overhead is applied. |
| b. | a)Direct and indirect labor costs are incurred. b)Direct and indirect materials are issued. c)Factory overhead is applied. |
| c. | a)Direct and indirect labor costs are incurred. b)Direct and indirect materials are issued. c)Factory overhead is applied. |
| d. | a)Completed goods are transferred to finished goods. b)Goods are sold. c)Underapplied overhead is allocated. |
| e. | a)Completed goods are transferred to finished goods. b)Goods are sold. c)Underapplied overhead is allocated. |
| f. | a)Completed goods are transferred to finished goods. b)Goods are sold. c)Underapplied overhead is allocated. |

Six selected transactions for the current month are indicated by letters in the following T accounts in a job order cost accounting system: Materials (a) Wages Payable (b) Factory Overhead (c) (a) (b) (0) Cost of Goods Sold (e) (0) Work in Process (d) (a) (b) (c) 0 Finished Goods (e) (d) (1) Describe each of the six transactions. a. b. c. d. e. f
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