Dazzle, Inc. produces beads for jewelry 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 $ 96,000 169,000 Direct labor used Predetermined overhead rate (based on direct labor) Goods transferred to finished goods 441,000 Cost of goods sold 453,000 Credit sales 819,000 160%

Dazzle, Inc. produces beads for jewelry 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 $ 96,000 169,000 Direct labor used Predetermined overhead rate (based on direct labor) Goods transferred to finished goods 441,000 Cost of goods sold 453,000 Credit sales 819,000 160%

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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Question

Multiple Choice
Debit Raw Materials Inventory $96,000; credit Accounts Payable $96,000.
Debit Raw Materials Inventory $96,000; credit Finished Goods Inventory $96,000.
Debit Cost of Goods Sold $96,000; credit Finished Goods Inventory $96,000.
Debit Work in Process Inventory $96,000; credit Raw Materials Inventory $96,000.
Debit Work in Process Inventory $96,000; credit Cost of Goods Sold $96,000.
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Dazzle, Inc. produces beads for jewelry 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
$ 96,000
169,000
Direct labor used
160%
Predetermined overhead rate (based on direct labor)
Goods transferred to finished goods
441,000
Cost of goods sold
Credit sales
453,000
819,000
Multiple Choice
Debit Raw Materials Inventory $96,000; credit Accounts Payable $96,000.
Debit Raw Materials Inventory $96,000; credit Finished Goods Inventory $96,000.
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