Dazzle, Inc A) Debit Raw Materials Inventory $87,000; Credit Finished Goods Inventory

question 87

Multiple Choice

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 material usage is: $\begin{array} { | l | r | } \hline \text { Direct materials used } & \$ 87,000 \\\hline \text { Direct labor used } & 160,000 \\\hline \text { Predetermined overhead rate (based on direct labor) } & 155 \% \\\hline \text { Goods transferred to finished goods } & 432,000 \\\hline \text { Cost of goods sold } & 444,000 \\\hline \text { Credit sales } & 810,000 \\\hline\end{array}$

• A) Debit Raw Materials Inventory $87,000; credit Finished Goods Inventory $87,000.
• B) Debit Work in Process Inventory $87,000; credit Raw Materials Inventory $87,000.
• C) Debit Work in Process Inventory $87,000; credit Cost of Goods Sold $87,000.
• D) Debit Raw Materials Inventory $87,000; credit Accounts Payable $87,000.
• E) Debit Cost of Goods Sold $87,000; credit Finished Goods Inventory $87,000.

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Definitions:

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RNA Polymerase

An enzyme responsible for synthesizing RNA from a DNA template during the process of transcription.

Promoter

A region of DNA that initiates transcription of a particular gene.

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The original tumor in the body where cancer starts, before potentially spreading to other locations.