Chapter 17: Q17-2RQ (page 930)
Question: What types of companies use job order costing systems?
Answer:
Accounting firms, building contractors, furniture manufacturer, etc., use job order costing system.
Over 30 million students worldwide already upgrade their learning with Vaia!
All the tools & learning materials you need for study success - in one app.
Get started for free
Following is a list of cost system characteristics and sample companies. Match each to either job order costing or process costing.
h. A company that bottles milk into one-gallon containers.
Question: Why does the sale of a completed job require two journal entries? What are they?
Question: Journalize the following transactions for Marge’s Sofas. Explanations are not required.
h. Sold inventory on account, \(22,000; cost of goods sold, \)18,000.
Distinguishing between job order costing and process costing
Would the following companies most likely use job order costing or process costing?
e. A landscape contractor
Analyze the following T-accounts to determine the amount of direct and indirectmaterials used.
Raw material inventory
Work in process inventory
What do you think about this solution?
We value your feedback to improve our textbook solutions.
