g Time Remaining: 00 59 22 Submit Qu This Question: 1 pt 1 of 10 This Quiz: 10 p

Question

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Time Remaining: 00 59 22 Submit Qu This Question: 1 pt 1 of 10 This Quiz: 10 pts possit Caltran Inc. completed manufacturing Job 445 t inluded $390 of drect materials cost $1,220 of drect labor cost and $500 ofalocaled manufacturing averhead Which of the folowong is the correct joumal entry needed to repord the completed job? O A. Work-in-Process Inventory OB. Finished Goods Inventory 1610 Cost of Goods Sold 1610 2 11 Work-in-Process Inventory O C. Finished Goods Inventory 2 11 Materials Inventory |Work-ln-Process Inventory D. 2.11 Finished Goods Inventory Click to select your answer

Explanation / Answer

It transfers the JOB related materials plus labor plus allocated manufacturing overhead amount from WIP to finished goods. Amount of materials plus labor plus allocated overhead comes to $2,110.

Entry to decrease WIP and increase FG by $2,110 is

Account Debit Credit Finished goods inventory 2110        Work in process inventory 2110

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