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Enterprise risk management (ERM) includes the systems and process companies use to maximize the effect of risk. True or False True False Portside Watercraft uses
Enterprise risk management (ERM) includes the systems and process companies use to maximize the effect of risk. True or False True False 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 ournal entry to record the allocation of factory wages to production is: Multiple Choice Debit Work in Process Inventory $95,000; credit Factory Wages Payable $95,000. Debit Work in Process Inventory $95,000; credit Cash $95,000. Debit Factory Wages Payable $95,000; credit Cash $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 $70,000; debit Factory Overhead $25,000; credit Cash $95,000
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