Tap the wrong account

Exercise and reference answers

Questions

1. Statement parts

   1. Direct
   2. materials
   3. used
   4. on
   5. a
   6. job
   7. are
   8. debited
   9. to
   10. Factory Overhead

   Correction

   Work in Process

   Incorrect part

   Factory Overhead

2. Statement parts

   1. Indirect
   2. labor
   3. in
   4. the
   5. factory
   6. is
   7. debited
   8. to
   9. Work in Process

   Correction

   Factory Overhead

   Incorrect part

   Work in Process

3. Statement parts

   1. Under
   2. applied
   3. overhead
   4. is
   5. fixed
   6. by
   7. debiting
   8. Work in Process

   Correction

   Cost of Goods Sold

   Incorrect part

   Work in Process

4. Statement parts

   1. Finished
   2. jobs
   3. move
   4. from
   5. Work in Process
   6. to
   7. Materials

   Correction

   Finished Goods

   Incorrect part

   Materials

Instructions

Each line names one wrong account. Tap it.

Explanation