Shared Flashcard Set

Details

Accounting 123- course 3 of 3
Job Order Costing Entries
8
Business
Undergraduate 1
04/27/2008

Additional Business Flashcards

 


 

Cards

Term
Purchased raw materials on account.
Definition

Raw materials Inventory

                                             A/P
 

Term
Started job #310 and applied overhead to job #310
Definition

            Goods in process inventory

                                            Raw Matl. Invt.

Factory Overhead

                                             Raw Matl. Invt. 

Term
Recording payroll
Definition

Factory Payroll

                        Cash
 

Term
Allocated payroll to direct and indirect accounts.
Definition

            Goods in process inventory

                                                  Factory payroll 

Factory Overhead 

                                  Factory Payroll 

Term
Applied factory overhead
Definition

Factory overhead

                   Cash
 

Term

 

Applied % of overhead 

Definition

Goods in proccess invt.

                            Factory Ovrhd. 

Term
Finished Job #310
Definition

Finished Goods Invt.

                                    Goods in process Invt.
 

Term
Sold job #310/ or recieved payment for.
Definition

COGS

                                 Finished Goods Invt. 

Sales

          A/R 

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