Question & Answer: Inc. finished Job A40 on the last working day of the year. It utilized $370 of direct materials and $2,400 of di…..

Altma, Inc. finished Job A40 on the last working day of the year. I allocation rate based on a porcentage of direct labor costs, which has been bed at 40%. The entry to record the completion ofthe obst udd irolve a $370 of direct materials and $2,400 of direct labor. Allima uses a O A. debit to Work-in-Process Inventory $3,730 and a credit to Finished Goods Inventory $3,730 。EL debit to Finished Goods Inventory S3,730 and a aedit to Materials Inventory $3.730 O C. debit to Finished Goods Inventory $3,730 and a credit to Work-in-Process Inventory $3,730 O D. debit to Cost of Goods Sold $3,730 and a credit to Finished Goods Inventory $3,730 Clear All 1,770 KB 35% 6/4/2013 3 02 PM lution... Microsoft Excel 97-2003 1,162 KB No

Inc. finished Job A40 on the last working day of the year. It utilized $370 of direct materials and $2,400 of direct labor. Uses a predetermined overhead allocation rate based on a percentage of direct labor costs, which has been fixed at 40%. The entry to record the completion of the job should involve a _____ A. debit to Work-in-Process Inventory $3,730 and a credit to Finished Goods Inventory $3,730 B. debit to Finished Goods Inventory S3,730 and a credit to Materials Inventory $3.730 C. debit to Finished Goods Inventory $3,730 and a credit to Work-in-Process Inventory $3,730 D. debit to Cost of Goods Sold $3,730 and a credit to Finished Goods Inventory $3,730

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Question & Answer: Inc. finished Job A40 on the last working day of the year. It utilized $370 of direct materials and $2,400 of di..... 1

Question & Answer: Inc. finished Job A40 on the last working day of the year. It utilized $370 of direct materials and $2,400 of di..... 2

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