Using a job order cost accounting system work in process, Financial Accounting

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Using a job order cost accounting system work in process

Using a job order cost accounting system, Work in process account is debited and Factory overhead account is credited, describe why this transaction is made?

A. Materials requisitioned for use B. Jobs completed

C. Application of factory overhead costs to jobs D. Goods Sold

2. The comprehensive budget plan that involves eliminating a month from the plan when it is finished, and adding another month to the plan 1 year out is known as the:

A. Cash budget B. Capital expenditures budget C. Continuous budget D. Master budget

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Financial Accounting: Using a job order cost accounting system work in process

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Financial Accounting: Using a job order cost accounting system work in process

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