Embark produces mulch for landscaping use. The following information summarizes

Question

Embark produces mulch for landscaping use. The following information summarizes production operations for June. The journal entry to record June production activities for overhead allocation is: Direct materials used.................................................$87,000 Direct labor used........................................................$160,000 Predetermined overhead rate(Based on direct labor)..155% Goods transfered to finished goods...........................$432,000 cost of goods sold......................................................$44,000 credit sales................................................................$810,000 a. Debit Factory Overhead $248,000; credit Cash $248,000. b. Debit Goods in Process Inventory $160,000; credit Factory Payroll $160,000. c. Debit Goods in Process Inventory $248,000; credit Factory Overhead $248,000. d. Debit Goods in Process Inventory $160,000; credit Factory Overhead $160,000. e. Debit Goods in Process Inventory $160,000; credit Cash $160,000.

Explanation / Answer

c. Debit Goods in Process Inventory $248,000; credit Factory Overhead $248,000.

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