Dazzle, Incorporated produces beads for jewelry making use. The following information summarizes production operations for June. The journal entry to record overhead applied during June is:
Direct materials used$ 89,000Direct labor used162,000Predetermined overhead rate (based on direct labor)160%Goods transferred to finished goods434,000Cost of goods sold446,000Credit sales812,000
Select one:
a. Debit Work in Process Inventory $162,000; credit Factory Wages $162,000.
b. Debit Work in Process Inventory $162,000; credit Factory Overhead $162,000.
c. Debit Factory Overhead $259,200; credit Cash $259,200.
d. Debit Work in Process Inventory $162,000; credit Cash $162,000.
e. Debit Work in Process Inventory $259,200; credit Factory Overhead $259,200.