Question

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 $74,000
Direct labor used $136,100
Pre-determined overhead rate
(based on direct labor) 120%
Goods transferred to
finished goods $444,000
Cost of goods sold $456,000
Credit sales $831,600
A. Debit Accounts Receivable $831,600; credit Cost of Goods Sold $831,600.
B. Debit Accounts Receivable $831,600; credit Sales $375,600; credit Finished Goods Inventory $456,000.
C. Debit Cost of Goods Sold $456,000; credit Sales $456,000.
D. Debit Finished Goods Inventory $456,000; debit Sales $831,600; credit Accounts Receivable $831,600; credit Cost of Goods Sold $456,000.
D. Debit Accounts Receivable $831,600; credit Sales $831,600; debit Cost of Goods Sold $456,000; credit Finished Goods Inventory $456,000.

Answer 1

Answer: Debit Accounts Receivable $831600; credit Sales $831600; debit Cost of Goods Sold $456,000; credit Finished Goods Inventory $456,000.

Explanation:

Based on the information given, the journal entry to record June sale will be:

Debit Accounts Receivable $831,600;

Credit Sales $831,600;

Debit Cost of Goods Sold $456,000;

Credit Finished Goods Inventory $456,000.