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4 years ago

LO 4.7In a job order cost system, factory wage expense is debited to which account?

Business

1 answer:

klio [65]4 years ago

5 0

In a job order cost system, factory wage expense is debited to work in process inventory.

Explanation:

The costing of job orders is a system for assigning and accumulating production costs for a single production unit. When different produced items differ enough and each has considerable costs, the job order costing system is used.

The costs of each jobs include direct materials, direct work and production overhead in order to summarize the cost system for jobs. While the product is being produced, the process inventory includes direct materials and direct labor costs.

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Answer:

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Explanation:

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4 years ago

The following revenue and expense account balances were taken from the ledger of Wholistic Health Services Co. after the account

vova2212 [387]

Answer:

Wholistic Health Services Co.

Income Statement for the year end February 28, 2019

Service Revenue $270,900

Less: Supplies Expense $3,000

Gross Income $267,900

Less operating Expenses:

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Income statement shows the performance of the company in a year. It provides the details of revenue, expenses and profits for the year. All the expenses are deducted from the revenue to determine the net earning of the business.

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