Selected accounts with amounts omitted are as follows Work in Process Aug. 1 Balance 275,000 Aug. 31 Goods finished 1,030,000 31 Direct materials х 31 Direct labor 450,000 31 Factory overhead х Factory Overhead Aug. 1-31 Costs incurred 145,000 Aug. 1 Balance 15,000 31 Applied (30% of direct labor cost) х If the balance of Work in Process on August 31 is $220,000, what was the amount debited to Work in Process for direct materials in August? a. $390,000 Ob. $525,000 c. $580,000 d. $170,000
Selected accounts with amounts omitted are as follows Work in Process Aug. 1 Balance 275,000 Aug. 31 Goods finished 1,030,000 31 Direct materials х 31 Direct labor 450,000 31 Factory overhead х Factory Overhead Aug. 1-31 Costs incurred 145,000 Aug. 1 Balance 15,000 31 Applied (30% of direct labor cost) х If the balance of Work in Process on August 31 is $220,000, what was the amount debited to Work in Process for direct materials in August? a. $390,000 Ob. $525,000 c. $580,000 d. $170,000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
If the balance of Work in Process on August 31 is $220,000, what was the amount debited to Work in Process for direct materials in August?
a.$390,000
b.$525,000
c.$580,000
d.$170,000

Transcribed Image Text:Selected accounts with amounts omitted are as follows
Work in Process
Aug. 1 Balance
275,000 Aug. 31
Goods finished
1,030,000
31 Direct materials
х
31 Direct labor
450,000
31 Factory overhead
х
Factory Overhead
Aug. 1-31 Costs incurred
145,000 Aug. 1 Balance
15,000
31
Applied
(30% of direct labor cost)
х
If the balance of Work in Process on August 31 is $220,000, what was the amount debited to Work in Process for direct materials in August?
a. $390,000
Ob. $525,000
c. $580,000
d. $170,000
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps with 3 images

Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,


Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,

Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,

Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON

Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education

Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education