Question
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 overhead allocation is:
Direct Materials used- $98,000 Direct Labor- 171,000 Predetermined overhead rate (based on direct labor)- 150% goods transferred to finished goods- 443,000 cost of goods sold- 455,000 credit sales- 920,000
A. Debit Work In Process Inventory $171,000; credit cash $171,000
B. Debit Work In Process Inventory $171,000; credit Factory Overhead $171,000
C. Debit Work In Process Inventory $171,000; credit Factory Payroll $171,000
D. Debit Work In Process Inventory $256,500; credit Factory Overhead $256,500
During March, the production department of a process operations system completed and transferred to finished goods 20,000 units that were in process at the beginning of March and 100,00 units that were stated and completed in March. March's beginning inventory units were 100% complete with respect to materials and 54% complete with respect to conversion. At the end of March, 29,000 additional units were in process in the production department and were 100 % complete with respect to materials and 29% complete with respect to conversion. Compute the number of physical units transferred to finished goods. A. 120,000 B. 149,000 C. 95,000 D. 100,000
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