Penn Company uses a job order cost accounting system. In the last month, the system accumulated labor time tickets totaling $24,600 for direct labor and $4,300 for indirect labor. These costs were accumulated in Factory Payroll as they were paid. Which entry should Penn make to assign the Factory Payroll?

1. Debit Payroll Expense $28,900; credit Cash $28,900.
2. Debit Payroll Expense $24,600; debit Factory Overhead $4,300; credit Factory Payroll $28,900.
3. Debit Goods in Process Inventory $24,600; debit Factory Overhead $4,300; credit Factory Payroll $28,900.
4. Debit Goods in Process Inventory $24,600; debit Factory Overhead $4,300; credit Wages Payable $28,900.
5. Debit Goods in Process Inventory $28,900; credit Factory Payroll $28,900.