Dazzle, Inc. produces beads for jewellery making use. The following information summarizes production operations for June. The journal entry to record June production activities for direct material usage is: Direct materials used $89,000 Direct labour used 162,000 Predetermined overhead rate (based on direct labour) 160% Goods transferred to finished goods 434,000 Cost of goods sold 446,000 Credit sales 812,000

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Dazzle, Inc. produces beads for jewellery making use. The
following information summarizes production operations for
June. The journal entry to record June production activities
for direct material usage is:
Direct materials used $89,000
Direct labour used 162,000
Predetermined overhead rate (based on direct labour) 160%
Goods transferred to finished goods 434,000
Cost of goods sold 446,000
Credit sales 812,000
Transcribed Image Text:Dazzle, Inc. produces beads for jewellery making use. The following information summarizes production operations for June. The journal entry to record June production activities for direct material usage is: Direct materials used $89,000 Direct labour used 162,000 Predetermined overhead rate (based on direct labour) 160% Goods transferred to finished goods 434,000 Cost of goods sold 446,000 Credit sales 812,000
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