1. Business
  2. Accounting
  3. 5 the journal entry for cost of goods manufactured includes...

Question: 5 the journal entry for cost of goods manufactured includes...

Question details

5) The journal entry for cost of goods manufactured includes the costs of units that are partially completed.


6) Advertising costs should NOT be charged to the Manufacturing Overhead account.


7) The following entry would be used to record the transfer of $40,000 of direct material and $10,000 of indirect material from the storeroom to production:


Direct Materials

40,000

Indirect Materials

10,000

Raw Materials

50,000


8) Entry (16) in the below T-account represents the cost of goods manufactured transferred to Finished Goods from Work in Process.



Finished Goods

Bal.

40,000

(16)

520,000

(15)

540,000

Bal.

60,000


Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution