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Victoria87 Victoria87
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11 months 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 the direct and indirect labor costs incurred during the year?



DebitCredit
Work in Process640,000
Manufacturing Overhead174,000
Wages Payable814,000


DebitCredit
Wages Payable814,000
Work in Process640,000
Manufacturing Overhead174,000


DebitCredit
Wages Payable814,000
Direct Labor640,000
Manufacturing Overhead174,000


DebitCredit
Direct Labor640,000
Manufacturing Overhead174,000
Wages Payable814,000
Textbook 
Introduction to Managerial Accounting: Brewer Edition: 9e

Introduction to Managerial Accounting: Brewer Edition: 9e


Edition: 9th
Authors:
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ftricey04ftricey04
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11 months ago
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Victoria87 Author
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11 months ago
Smart ... Thanks!
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Yesterday
Thanks
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2 hours ago
Thanks for your help!!
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