Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations and sales activities for June. The journal entry to record June

Dazzle, Inc. 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 $87,000
Direct labor used 160,000
Predetermined overhead rate (based on direct labor) 155%
Goods transferred to finished goods 432,000
Cost of goods sold 444,000
Credit sales 810,000

Debit Accounts Receivable $810,000; credit Cost of Goods Sold $810,000.

Debit Accounts Receivable $810,000; credit Sales $366,000; credit Finished Goods Inventory $444,000.

Debit Cost of Goods Sold $444,000; credit Sales $444,000.

Debit Finished Goods Inventory $444,000; debit Sales $810,000; credit Accounts Receivable $810,000; credit Cost of Goods Sold $444,000.

Debit Accounts Receivable $810,000; credit Sales $810,000; debit Cost of Goods Sold $444,000; credit Finished Goods Inventory $444,000.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Cpa Financial Services A Guide To Fitting The Pieces Together

Authors: Billy Hemby

1st Edition

1958331007, 978-1958331002

More Books

Students also viewed these Accounting questions

Question

=+4. Which dimension is the lowest?

Answered: 1 week ago