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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
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 21.02 Direct labor cost $ 640,000 Manufacturing overhead: Indirect labor cost $ 174,000 Other manufacturing overhead costs incurred Cost of goods manufactured Cost of goods sold (unadjusted) The journal entry to record the unadjusted Cost of Goods Sold is: $ 498,000 $1,469,000 $1,430,000 Multiple Choice Cost of Goods Sold Finished Goods Debit 1,430,000 Credit 1,430,000 Cost of Goods Sold Finished Goods Debit 1,430,000 Finished Goods Cost of Goods Sold Finished Goods: Cost of Goods Sold Cost of Goods Sold Finished Goods Credit 1,430,000 Debit 1,430,000 Credit 1,430,000 Debit 1,469,000 Credit 1,469,000 Debit 1,469,000 Credit 1,469,000
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