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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

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 labor usage is:

Direct materials used $ 94,000
Direct labor used 167,000
Predetermined overhead rate (based on direct labor) 160 %
Goods transferred to finished goods 439,000
Cost of goods sold 451,000
Credit sales 817,000

Multiple Choice

  • Debit Factory Payroll Payable $167,000; credit Cash $167,000.

  • Debit Work in Process Inventory $167,000; credit Factory Payroll Payable $167,000.

  • Debit Cost of Goods Sold $167,000; credit Factory Payroll Payable $167,000.

  • Debit Work in Process Inventory $167,000; credit Raw Materials Inventory $167,000.

  • Debit Work in Process Inventory $167,000; credit Cash $167,000.

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