Details

Title: Accounting 123- course 3 of 3

Description: Job Order Costing Entries

Total Flash Cards: 8

Created: 04/27/2008 18:35:57

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Additional Business Flashcards

Cards in this set:

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