A considerable portion of the text's process-costing presentation illustrated the proper way to allocate manufacturing costs to the units completed during the period and the ending work-in-process inventory. For companies that have a single manufacturing department, the journal entry to recognize completed production involves a debit to Finished-Goods Inventory and a credit to Work-in-Process Inventory. Required:What journal entry, if any, is needed for these same companies to properly account for ending work in process?
What will be an ideal response?
No journal entry is needed. The cost of the ending work-in-process inventory becomes the ending balance of the related inventory account (i.e., the proper amounts remain in the account after removal of the cost of completed goods).
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Theoretically, in the ______________________________ approach to manufacturing, each job consists of a batch of one unit
Fill in the blank(s) with correct word
Which of the following is an example of a situation that is NOT conducive to database marketing?
A) Rushbury Theater relies on the generosity of donors to keep functioning. B) Kenilworthy retails luxury handbags and leather accessories to a select clientele. C) 2Wheels sells its most profitable products to repeat customers. D) Uncle Jim's sells its range of snacks in stores throughout the country. E) PetZone offers obedience classes, a doggie daycare, and other services for pets in the Manhattan area.
To soften the blow of a negative response in a direct message, what should the writer include in the body of the message?
A) Specific identification of the negative news B) The option to seek other solutions C) Specific reason that lead to the decision D) As much detail as possible E) Emphasize how the decision can benefit the audience
The IASC does not have authority to enforce its standards, but these standards have been adopted in whole or in part by many countries
Indicate whether the statement is true or false