Ch 19 LO2 Record DM DL University Quiz

Ch 19 LO2 Record DM DL

Assessment

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Dr. Paz

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Other

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University

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3 plays

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Hard

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7 questions

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1.

Multiple Choice

1 min

1 pt

The entry to record the purchase of direct materials on account would include a ________.

debit to the Raw Materials Inventory account

credit to the Work_in_Process Inventory account

credit to the Raw Materials Inventory account

debit to the Work_in_Process Inventory account

2.

Multiple Choice

45 sec

1 pt

Which of the following accounts would be debited in the journal entry to record the issuance of direct materials?

Finished Goods Inventory

COGS

Raw Materials Inventory

WIP Inventory

3.

Multiple Choice

45 sec

1 pt

Manufacturing Overhead is a temporary account used to ________ indirect production costs during the accounting period.

allocate

approximate

accumulate

assign

4.

Multiple Choice

45 sec

1 pt

The journal entry to issue indirect materials to production should include a debit to the ________.

Raw Materials Inventory account

Work_in_Process Inventory account

Manufacturing Overhead account

Finished Goods Inventory account

5.

Multiple Choice

45 sec

1 pt

The journal entry to record indirect labor costs incurred involves a debit to the ________.

Manufacturing Overhead account

Finished Goods Inventory account

Wages Payable account

Work_in_Process Inventory account

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