Question 11 Dazzle, Incorporated produces beads for jewelry making use. The following information summarizes production operations and sales activities for June. The journal entry to record June sales is: Direct materials used Direct labor used $ 96,000 176,400 Predetermined overhead rate (based on direct labor) 180% Goods transferred to finished goods Cost of goods sold Credit sales 449,000 461,000 840,600 O Debit Accounts Receivable $840,600; credit Cost of Goods Sold $840,600. O Debit Accounts Receivable $840,600; credit Sales $379,600; credit Finished Goods Inventory $461,000. O Debit Cost of Goods Sold $461,000; credit Sales $461,000. O Debit Finished Goods Inventory $461,000; debit Sales $840,600; credit Accounts Receivable $840,600; credit Cost of Goods Sold $461,000. O Debit Accounts Receivable $840,600; credit Sales $840,600; debit Cost of Goods Sold $461,000; credit Finished Goods Inventory $461,000.
Question 11 Dazzle, Incorporated produces beads for jewelry making use. The following information summarizes production operations and sales activities for June. The journal entry to record June sales is: Direct materials used Direct labor used $ 96,000 176,400 Predetermined overhead rate (based on direct labor) 180% Goods transferred to finished goods Cost of goods sold Credit sales 449,000 461,000 840,600 O Debit Accounts Receivable $840,600; credit Cost of Goods Sold $840,600. O Debit Accounts Receivable $840,600; credit Sales $379,600; credit Finished Goods Inventory $461,000. O Debit Cost of Goods Sold $461,000; credit Sales $461,000. O Debit Finished Goods Inventory $461,000; debit Sales $840,600; credit Accounts Receivable $840,600; credit Cost of Goods Sold $461,000. O Debit Accounts Receivable $840,600; credit Sales $840,600; debit Cost of Goods Sold $461,000; credit Finished Goods Inventory $461,000.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
am. 118.
Transcribed Image Text:Question 11
Dazzle, Incorporated produces beads for jewelry making use. The following information summarizes production operations and
sales activities for June. The journal entry to record June sales is:
Direct materials used
Direct labor used
$ 96,000
176,400
Predetermined overhead rate (based on direct labor) 180%
Goods transferred to finished goods
Cost of goods sold
Credit sales
449,000
461,000
840,600
O Debit Accounts Receivable $840,600; credit Cost of Goods Sold $840,600.
O Debit Accounts Receivable $840,600; credit Sales $379,600; credit Finished Goods Inventory $461,000.
O Debit Cost of Goods Sold $461,000; credit Sales $461,000.
O Debit Finished Goods Inventory $461,000; debit Sales $840,600; credit Accounts Receivable $840,600; credit Cost of Goods Sold $461,000.
O Debit Accounts Receivable $840,600; credit Sales $840,600; debit Cost of Goods Sold $461,000; credit Finished Goods Inventory $461,000.
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