Business, 29.07.2019 21:10 lovely222

Portside watercraft uses a job order costing system. during one month portside purchased $173,000 of raw materials on credit; issued materials to production of $164,000 of which $24,000 were indirect. portside incurred a factory payroll of $95,000, of which $25,000 was indirect labor. portside uses a predetermined overhead rate of 170% of direct labor cost. the journal entry to record the allocation of factory wages to production is: debit factory wages payable $95,000; credit cash $95,000. debit work in process inventory $95,000; credit factory wages payable $95,000. debit work in process inventory $70,000; debit factory overhead $25,000; credit factory wages payable $95,000. debit work in process inventory $95,000; credit cash $95,000. debit work in process inventory $70,000; debit factory overhead $25,000; credit cash $95,000.

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Portside watercraft uses a job order costing system. during one month portside purchased $173,000 of...

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