Unit 2: Job Order Costing Module 3: Job Order Costing – Reports Question and answers correctly solved 2025

Unit 2: Job Order Costing Module 3: Job Order Costing – Reports
Question and answers correctly solved 2025

1. CoGS T-account breakdown Debits indicate the
costs put into
production dur- ing
the period, and cred-
it represent the cost
of goods
manufactured (or
finished) during the
peri- od

2. Cost of Goods manufactured schedule definition A schedule supporting
the income statement
that
summarizes the total
cost of goods
manufactured and
transferred out of
the WIP inventory
account during a
period; these costs
include direct mate-
rials, direct labor, and
ap- plied manufacturing
over- head

3. Cost of Goods manufactured schedule flow Begins with the cost of
raw materials put into
pro-
duction and adds
direct labor used in
production during the
period as well as the
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, Unit 2: Job Order Costing Module 3: Job Order Costing – Reports
Question and answers correctly solved 2025
amount of over- head
allocated to produc-
tion during the
period.
These items are put
into the WIP account
with a debit. Once the
change in beginning
and ending in-




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