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Gala2k [10]
3 years ago
9

Dazzle, Inc. produces beads for jewelry making use. The following information summarizes production operations for June. The jou

rnal entry to record June production activities for overhead allocation is
Direct materials used $ 89,000
Direct labor used 162,000
Predetermined overhead rate (based on direct labor) 157 %
Goods transferred to finished goods 434,000
Cost of goods sold 446,000
Credit sales 830,000
1. Debit Work in Process Inventory $251,160; credit Factory Overhead $251,160.
2. Debit Work in Process Inventory $161,000; credit Factory Wages $161,000.
3. Debit Work in Process Inventory $161,000; credit Cash $161,000.
4. Debit Work in Process Inventory $161,000; credit Factory Overhead $161,000.
Business
1 answer:
Romashka [77]3 years ago
6 0

Answer:

Amount of Factory Overhead = 254,340

Explanation:

Computation of overhead:

Amount of Factory Overhead = 157% of Direct labor used

Amount of Factory Overhead = 157% (162,000)

Amount of Factory Overhead = 254,340

Journal entry.

Account title and explanation        Debit Credit

Work in Process Inventory                $254,340  

Factory Overhead                                     $254,340

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Add:

Purchase cost                            $ 1,038,200

Restoration cost                              $  111,600

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Deduct:

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a)

Per unit mineral cost = 1,273,800/57,900 = $ 22 per ton

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