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Business, 30.08.2019 04:30 Korkot7633

Minstrel manufacturing uses a job order costing system. during one month minstrel purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. minstrel incurred a factory payroll of $150,000, paid in cash, of which $40,000 was indirect labor. minstrel uses a predetermined overhead rate of 150% of direct labor cost. the journal entry to record the issuance of materials to production is: debit raw materials inventory $195,000; credit accounts payable $195,000. debit work in process inventory $165,000; debit factory overhead $30,000; credit raw materials inventory $195,000. debit finished goods inventory $195,000; credit raw materials inventory $195,000. debit work in process inventory $195,000; credit raw materials inventory $195,000. debit raw materials inventory $195,000; credit work in process inventory $195,000.

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Minstrel manufacturing uses a job order costing system. during one month minstrel purchased $198,000...

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