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Victoria87 Victoria87
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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 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
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ftricey04ftricey04
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Victoria87 Author
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A year ago
You make an excellent tutor!
lipop
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Yesterday
Smart ... Thanks!
yen
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2 hours ago
Thanks
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