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 $ 66,000 Direct labor used 121,400 Predetermined overhead rate (based on direct labor) Goods transferred to finished goods 441,000 Cost of goods sold. 453,000 Credit sales 826, 200 Multiple Choice Debit Accounts Receivable $826,200; credit Cost of Goods Sold $826,200. 160% Debit Accounts Receivable $826,200; credit Cost of Goods Sold $826,200. Debit Accounts Receivable $826,200; credit Sales $373,200; credit Finished Goods Inventory $453,000. Debit Cost of Goods Sold $453,000; credit Sales $453,000. Debit Finished Goods Inventory $453,000; debit Sales $826,200; credit Accounts Receivable $826,200; credit Cost of Goods Sold $453,000. Debit Accounts Receivable $826,200; credit Sales $826,200; debit Cost of Goods Sold $453,000; credit Finished Goods Inventory $453,000. Bryant Manufacturing produces its product in two sequential processing departments. During October, the first process finished and transferred 316,000 units of its product to the second process. Of these units, 68,000 were in process at the beginning of the month and 248,000 were started and completed during the month. At month-end, 48,000 units were in process. Using the FIFO method, compute the number of equivalent units of production for direct materials for the process assuming that beginning work in process inventory is 60% complete for direct materials cost and ending inventory is 20% complete for direct materials cost. Multiple Choice O 352,800. 325,600. 312,000. TB MC Qu. 03-154 (Algo) Andrews Corporation uses... Andrews Corporation uses the weighted-average method of process costing. The following information is available for February in its Polishing Department: Equivalent units of production-direct materials Equivalent units of production-conversion 121,000 EUP 104,400 EUP Costs in beginning Work in Process-direct materials $ 64,600 Costs in beginning Work in Process-conversion $ 47,500 Costs incurred in February-direct materials $ 546,300 Costs incurred in February-conversion $ 686,200 The cost per equivalent unit of production for direct materials is: Multiple Choice Williams Company computed its cost per equivalent unit for direct materials to be $2.70 and its cost per equivalent unit for conversion to be $3.28. A total of 381,000 units of product were completed and transferred out as finished goods during the month. The ending Work in Process inventory consists of 22,000 equivalent units of direct materials and 22,000 equivalent units of conversion costs. The amount that should be reported in ending Work in Process Inventory is: Multiple Choice O $59,400. $72,160. $2,337,780. Complete this question by entering your answers in the tabs below. Req 5A Req 5B Show how the three inventory accounts are reported on the April 30 balance sheet. Inventories Raw materials Work in process Finished goods Total inventories
