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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 cost of $95,000,of which $25,000 was indirect labor.Portside uses a predetermined overhead rate of 170% of direct labor cost.
-The journal entry to record the issuance of materials to production is:
Financial Gain
An increase in financial wealth, often resulting from investments or the operations of a business.
Sufficient Willpower
The necessary amount of determination and self-control required to achieve a goal or follow through with a decision.
Behavioral Economics
A field of economic study that examines how psychological, cognitive, emotional, cultural, and social factors affect economic decisions of individuals and institutions.
Temptation
The desire to engage in short-term urges for enjoyment, often at the expense of long-term goals.
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