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$475,000Raw materials (all direct) requisitioned for use in production$476,000Direct labor cost$640,000Manufacturing overhead: Indirect labor cost$174,000Other manufacturing overhead costs incurred$498,000Cost of goods manufactured$1,469,000Cost of goods sold (unadjusted)$1,430,000 What is the journal entry to record the direct and indirect labor costs incurred during the year?
A.
| Direct Labor | 640,000 | |
| Manufacturing Overhead | 174,000 | |
| Wages Payable | 814,000 |
B.
| Work in Process | 640,000 | |
| Manufacturing Overhead | 174,000 | |
| Wages Payable | 814,000 |
C.
| Wages Payable | 814,000 | |
| Direct Labor | 640,000 | |
| Manufacturing Overhead | 174,000 |
D.
| Wages Payable | 814,000 | |
| Work in Process | 640,000 | |
| Manufacturing Overhead | 174,000 |
Answer: B
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