Under a job order system of cost accounting, the dollar amount of the entry to transfer inventory from Work in Process to Finished Goods is the sum of the costs charged to all jobs:

Question

Business

Noodle

14 May, 03:37

Under a job order system of cost accounting, the dollar amount of the entry to transfer inventory from Work in Process to Finished Goods is the sum of the costs charged to all jobs:

+5

Answers (1)

Know the Answer?

Cheyenne Decker · Answer 1

Under a job-order system of cost accounting, the dollar amount of the general ledger entry involved in the transfer of inventory from work-in-process to finished goods is the sum of the costs charged to all jobs - The entry to transfer inventory from WIP to FG is to debit finished goods and credit work-in - process.