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Haleigh Campbell
on Oct 24, 2024

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In both job and process costing, the journal entry to record completed goods is.

A) debit work in process and credit manufacturing overhead.
B) credit finished goods inventory and debit cost of goods sold.
C) debit finished goods inventory and credit work in process.
D) debit work in process inventory and credit finished goods inventory.

Job Costing

An accounting method used to track the costs associated with a specific job or project to determine its profitability.

Process Costing

A costing methodology used in manufacturing, where costs are assigned to processes or operations to calculate the cost of each unit produced.

Completed Goods

Finished products that are ready for sale.

  • Distinguish between job costing and process costing systems.
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Shobhit MalaviyaOct 24, 2024
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