Business, 01.03.2021 18:40 serenityjohnson98765

Harrington Industries, which uses a process-costing system, had a balance in its Work-in-Process account of $68,000 on January 1. The account was charged with direct materials, direct labor, and manufacturing overhead of $450,000 throughout the year. If a review of the accounting records determined that $86,000 of goods were still in production at year-end, Harrington should make a journal entry on December 31 that includes: Multiple Choice a debit to Finished-Goods Inventory for $86,000. a credit to Work-in-Process Inventory for $432,000. a credit to Work-in-Process Inventory for $86,000. a debit to Cost of Goods Sold for $432,000. a credit to Finished-Goods Inventory for $432,000.

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Harrington Industries, which uses a process-costing system, had a balance in its Work-in-Process acc...

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