When time ticket information is entered into the accounting system, the journal entry is a debit to Factory Wages Payable and a credit to Work in Process Inventory.

Name: When time ticket information is entered into the accounting system, the journal entry is a debit to Factory Wages Payable and a credit to Work in Process Inventory.
Brand: Quizplus
Rating: 4.8 (34 reviews)

Question

Quizplus · Accepted Answer

The correct journal entry is a debit to Work in Process Inventory and a credit to Factory Wages Payable, as wages are incurred and added to the cost of production.

When Time Ticket Information Is Entered into the Accounting System