Question1: In a job-order costing system, the application of manufacturing overhead would be recorded as a debit to:
[A] Raw Materials inventory
[B] Work in Process inventory
[C] Finished Goods inventory
[D] Cost of Goods Sold
Question2: In the computation of costs per equivalent unit, the weighted-average method of process costing considers:
[A] Costs incurred during the current period plus cost of ending work in process inventory
[B] Costs incurred during the current period only
[C] Costs incurred during the current period plus cost of beginning work in process inventory
[D] Costs incurred during the current period less cost of beginning work in process inventory
Question3: A good description of "cost of goods manufactured" is the recorded cost of the:
[A] work done this period on units completed this period
[B] units started and completed during the period
[C] units completed during the period
[D] work done on all units during the period