2.5 points

QUESTION 13

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 raw materials used in production?

Work in Process	475,000
Raw Materials		475,000

Raw Materials	475,000
Work in Process		475,000

Work in Process	476,000
Raw Materials		476,000

Raw Materials	476,000
Work in Process		476,000