T-account: Work in Process Inventory DR CR Entry Label Entry Amount Entry Label Entry Amount ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? ? How much direct labor was incurred during the month?
4. Sterling’s records show the work in process inventory had a beginning balance of $4,000 and an ending balance of $3,000. The records also showed the following data for the month:
Materials used $1,500
Overhead applied 500
Cost of goods manufactured 7,500
Entry labels available for this problem:
| Beginning inventory | Materials available for use | |
| Overhead applied | Ending inventory | Materials used in production |
| Cost of goods manufactured | Direct labor | Purchases |
Using the entry labels listed above, complete the following T-account to determine how much direct labor was incurred during the month?
PLEASE NOTE: You must enter the entry labels exactly as written above and all entry amounts will be rounded to whole dollar amounts with "$" and commas as needed (i.e. $12,345). If no entry label is needed, please use "None" and if no entry amount is needed, please use "$0" - no quotation marks for either. You are to fill in cells beginning at the top of the T-account with any extra cells left at the bottom. Refer to the examples in the text for the proper format and order of the entry labels and amount.
T-account:
| Work in Process Inventory | |||
| DR | CR | ||
| Entry Label | Entry Amount | Entry Label | Entry Amount |
| ? | ? | ? | ? |
| ? | ? | ? | ? |
| ? | ? | ? | ? |
| ? | ? | ? | ? |
| ? | ? | ? | ? |
| ? | ? | ? | ? |
How much direct labor was incurred during the month?
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