Which of the following statements is true? (You may select more than one answer.

Question

Which of the following statements is true? (You may select more than one answer.)

A. The Manufacturing Overhead account is debited when manufacturing overhead is applied to Work in Process.
B. Job cost sheets accumulate the actual overhead costs incurred to complete a job.
C. When products are transferred from work in process to finished goods it results in a debit to Finished Goods and a credit to Work in Process.
D. Selling expenses are applied to production using a predetermined overhead rate that is computed at the beginning of the period.

Explanation / Answer

only option C is correct ie

C. When products are transferred from work in process to finished goods it results in a debit to Finished Goods and a credit to Work in Process.

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