The Journal Entry to Record the Flow of Costs into Department

question 143

Short Answer

The journal entry to record the flow of costs into Department 2 for direct labor is

---

Definitions:

Foreign Currency

The currency of another country, which can be used for financial transactions, investments, and international trade.

Retained Earnings

The portion of a company's profit that is kept or retained rather than distributed to shareholders or reinvested in the company.

Historical Rate

The exchange rate between two currencies at a past date, often used for comparative financial analysis or reporting purposes.