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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 X                 31   Direct labor  450,000                 31   Factory overhead X        ​ ​ Factory Overhead Aug. 1–31  Costs incurred 145,000 Aug.  1  Balance 15,000     ​        31  Applied       ​      (30% of direct              labor cost)  X ​ 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? Group of answer choices $390,000 $170,000 $580,000 $525,000

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 X                 31   Direct labor  450,000                 31   Factory overhead X        ​ ​ Factory Overhead Aug. 1–31  Costs incurred 145,000 Aug.  1  Balance 15,000     ​        31  Applied       ​      (30% of direct              labor cost)  X ​ 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? Group of answer choices $390,000 $170,000 $580,000 $525,000

FINANCIAL ACCOUNTING
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 amounts omitted are as follows:

Work in Process
Aug.   1   Balance

275,000 

  Aug. 31  Goods finished

1,030,000
         31   Direct materials

X 

      
         31   Direct labor

 450,000 

      
         31   Factory overhead

X 

      

​

​

Factory Overhead
Aug. 1–31  Costs incurred

145,000

 Aug.  1  Balance

15,000
   

​

        31  Applied  
   

​

      (30% of direct  
           labor cost)  X

​

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?

Group of answer choices
$390,000
$170,000
$580,000
$525,000
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