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Home Q & A Board Other Fields Homework Help Business Accounting
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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
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tswinson3tswinson3
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A year ago
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cng Author
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A year ago
Helped a lot
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Thank you, thank you, thank you!
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Thanks
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