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Safari File Edit View History Bookmarks Window Help ? ? ?, 81% E, ? Fri 6:06 PM E newconnect.mheducation.com 2018 Spr -BUS 5 (1298 Gmail Files Connect Arrow Video Bard Manufacturing Chapter Nineteen, Job Order Costing Saved Help Save & Exit Sbmit Bard Manufacturing uses a job order cost accounting system. During one month Bard purchased $198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Bard incurred a factory payroll of $150,000, paid in cash, of which $40,000 is classified as indirect labor. Bard uses a predetermined overhead application rate of 150% of direct labor cost. The journal entry to record the application of factory overhead to production is: 2 points Multiple Choice Print Debit Goods in Process Inventory $225,000; credit Factory Overhead $225,000. Debit Goods in Process Inventory $165,000; credit Factory Overhead $165,000. Debit Factory Payroll $150,000; credit Goods in Process Inventory $150,000. Mc Graw Hill K Prev 12 of 16 Next> 20

Explanation / Answer

Journal entry :

so answer is b) Debit goods in process $165000; credit factory overhead 165000

Date accounts & explanation debit credit Goods in process (150000-40000)*150% 165000 Factory overhead 165000

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