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Business, 29.07.2019 19:20, alexis9658
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 labor. minstrel uses a predetermined overhead rate of 150% of direct labor cost. the journal entry to record the purchase of materials is: debit raw materials inventory $198,000; credit work in process inventory $198,000. debit work in process inventory $198,000; credit accounts payable $198,000. debit raw materials inventory $198,000; credit finished goods inventory $198,000. debit work in process inventory $195,000; credit raw materials inventory $195,000. debit raw materials inventory $198,000; credit accounts payable $198,000.
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Minstrel manufacturing uses a job order costing system. during one month, minstrel purchased $198,00...
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