Farrel Corporation is a manufacturer that uses job-order costing. The company has supplied the following data for the just completed year: Direct labor cost$574,000
Manufacturing overhead:
Indirect labor cost$163,000
Other manufacturing overhead costs incurred$584,000
What is the journal entry to record the direct and indirect labor costs incurred during the year?

Multiple Choice

Wages Payable737,000
Direct Labor 574,000
Manufacturing Overhead 163,000
Direct Labor574,000
Manufacturing Overhead163,000
Wages Payable 737,000
Wages Payable737,000
Work in Process 574,000
Manufacturing Overhead 163,000
Work in Process574,000
Manufacturing Overhead163,000
Wages Payable 737,000

P11.2a (lo 2, 4) fechter corporation had the following stockholders’ equity accounts on january 1, 2020: common stock ($5 par) $500,000, paid-in capital in excess of par—common stock $200,000, and retained earnings $100,000. in 2020, the company had the following treasury stock transactions. journalize and post treasury stock transactions, and prepare stockholders’ equity section. mar. 1 purchased 5,000 shares at $8 per share. june 1 sold 1,000 shares at $12 per share. sept. 1 sold 2,000 shares at $10 per share. dec. 1 sold 1,000 shares at $7 per share. fechter corporation uses the cost method of accounting for treasury stock. in 2020, the company reported net income of $30,000. instructions a. journalize the treasury stock transactions, and prepare the closing entry at december 31, 2020, for net income. b. open accounts for (1) paid-in capital from treasury stock, (2) treasury stock, and (3) retained earnings. (post to t-accounts.) c. prepare the stockholders’ equity section for fechter corporation at december 31, 2020.

During which of the following phases of the business cycle does the real gdp fall? a. trough b. expansion c. contraction d. peak

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