Title: Verrett Corporation is a manufacturer that uses job-order costing. The company has supplied the ...
Post by: Victoria87 on Mar 30, 2023
Verrett Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: Raw materials purchased on account | $ 475,000 |
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Raw materials (all direct) requisitioned for use in production | $ 476,000 |
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Direct labor cost | $ 640,000 |
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Manufacturing overhead: | |
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Indirect labor cost | $ 174,000 |
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Other manufacturing overhead costs incurred | $ 498,000 |
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Cost of goods manufactured | $1,469,000 |
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Cost of goods sold (unadjusted) | $1,430,000 |
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What is the journal entry to record the direct and indirect labor costs incurred during the year? ▸ | Debit | Credit |
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Work in Process | 640,000 | |
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Manufacturing Overhead | 174,000 | |
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Wages Payable | | 814,000 |
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▸ | Debit | Credit |
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Wages Payable | 814,000 | |
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Work in Process | | 640,000 |
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Manufacturing Overhead | | 174,000 |
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▸ | Debit | Credit |
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Wages Payable | 814,000 | |
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Direct Labor | | 640,000 |
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Manufacturing Overhead | | 174,000 |
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▸ | Debit | Credit |
---|
Direct Labor | 640,000 | |
---|
Manufacturing Overhead | 174,000 | |
---|
Wages Payable | | 814,000 |
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Title: Re: Verrett Corporation is a manufacturer that uses job-order costing. The company has supplied the ...
Post by: ftricey04 on Mar 30, 2023
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