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In a job-order costing system, the amount of overhead cost that has

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In a job-order costing system, the amount of overhead cost that has been applied to a job that remains incomplete at the end of a period: a. is transferred to Finished Goods at the end of the period. b. is part of the ending balance of the Work in Process inventory account. c. is deducted on the Income Statement as overapplied overhead. d. is closed to Cost of Goods Sold. Solution B.) is part of the ending balance of the Work in Process inventory account

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Course: HBO Small Business en Ondernemerschap

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Uploaded on: June 27, 2023
Number of pages: 1
Written in: 2022/2023
Type: Exam (elaborations)
Contains: Questions & answers

Subjects

job order costing
costing system
system amount
amount overhead
overhead cost
cost that
that has

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In a job-order costing system, the amount of overhead cost that has been applied to a job that
remains incomplete at the end of a period:

a. is transferred to Finished Goods at the end of the period.

b. is part of the ending balance of the Work in Process inventory account.

c. is deducted on the Income Statement as overapplied overhead.

d. is closed to Cost of Goods Sold.

Solution
B.) is part of the ending balance of the Work in Process inventory account

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In a job-order costing system, the amount of overhead cost that has

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