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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
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, of which $40,000 was indirect lobor. Minstrel uses a predetermined overhead rate of 150% of direct labor cost. The Journal entry to record the application of factory overhead to production is Multiple Choice Debit Work In Process Inventory $225,000; credit Factory Overhead $225.000 Debit Work in Process Inventory 5165,000 credit Factory Overhead $165.000. Debit Factory Payroll $150,000, credit Work in Process inventory $150,000 Debit Factory Overhead 5165,000; credit Work In Process inventory $165,000 Debit Work in Process Inventory $165.000: credit Factory Payroll $165,000
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