Business, 09.04.2020 21:30 dflorez3064

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

The journal entry to record the transfer of completed goods from Work in Process to Finished Goods is:

A. Work in Process 1,672,500
Finished Goods 1,672,500

B. Work in Process 1,469,000
Finished Goods 1,469,000

C. Finished Goods 1,469,000
Work in Process 1,469,000

D. Finished Goods 1,672,500
Work in Process 1,672,500

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Verrett Corporation is a manufacturer that uses job-order costing. The company has supplied the foll...

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