Acct 211 chapters 20, 21, 22 questions with answers graded A+

Acct 211 chapters 20, 21, 22 questions with answers graded A+A major purpose of cost accounting is to - correct answer Measure, record, and report product costs Usually, under- or overapplied overhead is considered to be an adjustment to - correct answer cost of goods sold If manufacturing overhead has a credit balance at the end of the period, then - correct answer overhead has been overapplied When a job is completed and all cost have been accumulated on a job cos sheet, the journal entry that should be mad is - correct answer Dr: Finished goods inventory Cr: Work in progress inventory Manufacturing overhead would not have a subsidiary account for - correct answer Raw materials inventory Job cost sheets constitute the subsidiary ledger for the - correct answer Work in process inventory account If the entry to assign factory labor showed only a debit to work in process inventory, then all labor costs were - correct answer Direct labor In a job order cost accounting system, the raw materials inventory account is - correct answer a control account