Business
Business, 04.04.2020 04:42, ashleyprescot05

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:

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Minstrel Manufacturing uses a job order costing system. During one month, Minstrel purchased $198,00...

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