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 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.