Martinez Aerospace Company uses a job-order costing system.The direct materials for Job #045391 were purchased in July and put into production in August.The job was not completed by the end of August.At the end of August,in what account would the direct material cost assigned to Job #045391 be located?

Question

Quizplus · Accepted Answer

The direct material cost assigned to Job #045391 would be located in the Work in process inventory account at the end of August, as the job was still in production and not yet completed. Raw materials inventory would contain the purchased but unused direct materials, finished goods inventory would contain completed and ready-to-sell products, and cost of goods manufactured would be the total cost of completed products during the period.

Martinez Aerospace Company Uses a Job-Order Costing System