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cng cng
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A year ago

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
Raw materials (all direct) requisitioned for use in production$ 476,000
Direct labor cost$ 640,000
Manufacturing overhead:
Indirect labor cost$ 174,000
Other manufacturing overhead costs incurred$ 498,000
Cost of goods manufactured$1,469,000
Cost of goods sold (unadjusted)$1,430,000

What is the journal entry to record raw materials used in production?



DebitCredit
Work in Process475,000
Raw Materials475,000


DebitCredit
Raw Materials475,000
Work in Process475,000


DebitCredit
Raw Materials476,000
Work in Process476,000


DebitCredit
Work in Process476,000
Raw Materials476,000
Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
Authors:
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tswinson3tswinson3
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A year ago
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