Docksider Boats uses a job order cost accounting system. During one month Docksider purchased $153,000 of raw terials on credit; issued materials to production of $164,000 of which $24,000 were indirect. Docksider incurred a factory payroll of $95,000, paid in cash, of which $25,000 is classified as indirect labor. Docksider uses a predetermined overhead application rate of 170% of direct labor cost. The journal entry to record the application of factory overhead to production is: O Debit Goods in Process Inventory $55,800; credit Factory Overhead $55,800 O Debit Goods in Process Inventory $161,500; credit Factory Overhead $161,500 Debit Goods in Process Inventory $119,000; credit Factory Overhead $119,000 O Debit Factory Overhead $119,000; credit Goods in Process Inventory $119,000 O