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20 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
20 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: 01. O a credit to Work-in-Process Inventory for $86,000. 02. O a credit to Work-in-Process Inventory for $432,000. 03. O a credit to Finished-Goods Inventory for $432,000. 04. O a debit to Finished-Goods Inventory for $86,000. 05. O a debit to Cost of Goods Sold for $432,000. Previous Skip Save
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