A home builder just completed the construction of a new home.The home builder uses job-order costing.Costs of $200,000 were incurred to construct the home.The home is ready for sale and is listed with a real estate broker.What journal entry is necessary when the home is completed?
A) 
B) 
C) 
D) 
Correct Answer:
Verified
Q21: In job-order costing,a debit to Work-in-Process Inventory
Q22: Job-order costing is used.When direct materials are
Q24: Ralph Company uses a job-order costing system
Q25: Job-order costing is used.What account is credited
Q27: In a job-order system,accountants apply factory overhead
Q28: Actual factory overhead costs are Depreciation expense--equipment
Q29: Sandy Jensen Company uses a job-order costing
Q30: Beverly Bertonelli Company uses a job-order costing
Q31: Jack Bergman Company uses a job-order costing
Q37: In job-order costing,a debit to Finished Goods
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents