. QuestionDazzle, Inc. produces beads for jewelry making use. The following information summarizes productionoperations for June. The journal entry to record June production activities for direct material usage is:Direct materials used $ 87,000 Direct labor used 160,000 Predetermined overhead rate (based ondirect labor) 155 % Goods transferred to finished goods 432,000 Cost of goods sold 444,000 Creditsales 810,000

Answer : Work in process inventory = $87,000

Dazzle, Inc. produces beads for jewelry making use. The follow operations for June. The journal entry to record June productio Direct materials used $ 87,000 Direct labor used 160,000 Pred direct labor) 155 % Goods transferred to finished goods 432,00 1000

Dazzle, Inc. produces beads for jewelry making use. The follow operations for June. The journal entry to record June productio Direct materials used $ 87,000 Direct labor used 160,000 Pred direct labor) 155 % Goods transferred to finished goods 432,00 1000

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 15E: LeMans Company produces specialty papers at its Fox Run plant. At the beginning of June, the...

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LeMans Company produces specialty papers at its Fox Run plant. At the beginning of June, the following information was supplied by its accountant: During June, direct labor cost was 143,000, direct materials purchases were 346,000, and the total overhead cost was 375,800. The inventories at the end of June were: Required: 1. Prepare a cost of goods manufactured statement for June. 2. Prepare a cost of goods sold schedule for June.
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