Debit work in process inventory $293400
Credit factory overhead $293400
Factory overhead has been calculated as under:-
Direct labor cost multiply pre determined overhead rate= 180000 × 1.63=$293400
Dazzle Inc. produces beads for jewelry manguse the following information summas production certions for the u...
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 98,000 direct labor uses 171000 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...
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 $ 100,000 Direct labor used 173,000 Predetermined overhead rate (based on direct labor) 160 % Goods transferred to finished goods 445,000 Cost of goods sold 457,000 Credit sales 823,000 A. Debit Cost of Goods Sold $173,000; credit Factory Wages Payable $173,000 B. Debit Work...