Selected accounts with amounts omitted are as follows:Work in Process263,340 Aug. 31X34,100Aug. 1313131BalanceDirect materialsDirect laborFactory overheadAug. 1-31 Costs incurredFactory Overhead98,540 Aug. 131Goods finishedBalanceApplied (30% ofdirect labor cost)142,97012,530XIf the balance of Work in Process on August 31 is $204,810, what was the amount debited to Work in Process for direct materials in August?Oa. $92,630Ob. $359,280Oc. $502,250Od. $40,110

The work in process account records the direct costs incurred and overhead applied to the…

Selected accounts with amounts omitted are as follows: Work in Process 263,340 Aug. 31 Aug. 1 31 31 31 Balance Direct materials Direct labor Factory overhead Aug. 1-31 Costs incurred X 34,100 Factory Overhead 98,540 Aug. 1 31 Goods finished i Balance: Applied (30% of direct labor cost) 142,970 12,530 X If the balance of Work in Process on August 31 is $204,810, what was the amount debited to Work in Process for direct materials in August? Oa. $92,630 Ob. $359,2801 Oc. $502,250 Od. $40,110

Selected accounts with amounts omitted are as follows: Work in Process 263,340 Aug. 31 Aug. 1 31 31 31 Balance Direct materials Direct labor Factory overhead Aug. 1-31 Costs incurred X 34,100 Factory Overhead 98,540 Aug. 1 31 Goods finished i Balance: Applied (30% of direct labor cost) 142,970 12,530 X If the balance of Work in Process on August 31 is $204,810, what was the amount debited to Work in Process for direct materials in August? Oa. $92,630 Ob. $359,2801 Oc. $502,250 Od. $40,110

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Selected accounts with a credit amount omitted are as follows Work in Process Apr. 1 Balance 7,000 Apr. 30 Goods finished X 30 Direct materials 61,300 30 Direct labor 190,800 30 Factory overhead 57,240 Finished Goods Apr. 1 Balance 16,000 30 Goods finished 307,800 What was the balance of Work in Process as of April 30?
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Selected accounts with some amounts omitted are as follows: Work in Process Date Transaction Debit amount Date Transaction Credit amount Aug. 1 Balance 279, 100 Aug. 31 Goods finished 190, 700 31 Direct materials X 31 Direct labor 47, 400 31 Factory overhead X Factory Overhead Date Transaction Debit amount Date Transaction Credit amount Aug. 1-31 Costs incurred 113,000 Aug. 1 Balance 12, 100 31 Applied X If the balance of Work in Process on August 31 is $196, 400, what was the amount debited to Work in Process for factory overhead in August, assuming a factory overhead rate of 30% of direct labor costs? a. $190, 700 b. $12, 100 c. $113, 000 d. $14, 220
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