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Cost ACC Journalize

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
To record the purchase of raw material   Raw Material Inv. Accts. Pay.  
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To record the issuance of direct and indirect material requisitioned for a specific job   WIP Inv. - Job # (or Department) MOH Raw Material Inv.  
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To record direct and indirect labor payroll for production employees   WIP Inv. - Job # (or Department) MOH Wages Pay.  
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To record the incurrence of actual overhead costs (Account titles to be credited must be specified in an actual journal entry.)   MOH Various Accounts  
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To apply overhead to a specific cost (This may be actual OH or OH applied using a predetermined rate. predetermined OH is applied at job completion or end of period, whichever is earlier.)   WIP Inv. - Job # (or Department) MOH  
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To transfer completed goods to Finished Goods Inv.   Finished Goods Inv. (Job #) WIP Inv.  
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To record the sale of goods on account   Accts. Rec. Sales  
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To record COGS   COGS Finished Goods Inv.  
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Created by: dsilva32
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