Swick Industries uses a process cost system.The company assigned manufacturing overhead costs to production.What transaction was recognized?
A)Finished Goods Inventory account was increased.
B)Cost of Goods Sold was increased.
C)A Manufacturing Overhead account was reduced.
D)The Work in Process account was reduced.

Question

Quizplus · Accepted Answer

Assigning manufacturing overhead costs to production is a recognition of cost incurred, and thus, reduces the Manufacturing Overhead account.

Swick Industries Uses a Process Cost System