Homework Help is Here – Start Your Trial Now!
Business
Accounting
Selected accounts with some amounts omitted are as follows: Work in Process Aug.  1   Balance 272,190   Aug. 31 Goods finished 186,350        31   Direct materials X               31   Direct labor  36,600               31   Factory overhead X        Factory Overhead              Aug.  1 – 31 Costs incurred 103,580   Aug. 1 Balance 14,580              31 Applied            (30% of direct labor cost) X If the balance of Work in Process on August 31 is $194,950, what was the amount debited to Work in Process for direct materials in August? a. $503,740 b. $317,390 c. $61,530 d. $113,840

Selected accounts with some amounts omitted are as follows: Work in Process Aug.  1   Balance 272,190   Aug. 31 Goods finished 186,350        31   Direct materials X               31   Direct labor  36,600               31   Factory overhead X        Factory Overhead              Aug.  1 – 31 Costs incurred 103,580   Aug. 1 Balance 14,580              31 Applied            (30% of direct labor cost) X If the balance of Work in Process on August 31 is $194,950, what was the amount debited to Work in Process for direct materials in August? a. $503,740 b. $317,390 c. $61,530 d. $113,840

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
See similar textbooks
icon
Related questions
Question

Selected accounts with some amounts omitted are as follows:

Work in Process
Aug.  1   Balance 272,190   Aug. 31 Goods finished 186,350
       31   Direct materials X       
       31   Direct labor  36,600       
       31   Factory overhead X       

Factory Overhead             
Aug.  1 – 31 Costs incurred 103,580   Aug. 1 Balance 14,580
             31 Applied  
         (30% of direct labor cost) X

If the balance of Work in Process on August 31 is $194,950, what was the amount debited to Work in Process for direct materials in August?

a. $503,740
b. $317,390
c. $61,530
d. $113,840
AI-Generated Solution
AI-generated content may present inaccurate or offensive content that does not represent bartleby’s views.
steps

Unlock instant AI solutions

Tap the button
to generate a solution

SEE SOLUTION
Similar questions
Recommended textbooks for you
FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
Accounting
ISBN:
9781259964947
Author:
Libby
Publisher:
MCG
Accounting
Accounting
Accounting
ISBN:
9781337272094
Author:
WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.
Publisher:
Cengage Learning,
Accounting Information Systems
Accounting Information Systems
Accounting
ISBN:
9781337619202
Author:
Hall, James A.
Publisher:
Cengage Learning,
Horngren's Cost Accounting: A Managerial Emphasis…
Horngren's Cost Accounting: A Managerial Emphasis…
Accounting
ISBN:
9780134475585
Author:
Srikant M. Datar, Madhav V. Rajan
Publisher:
PEARSON
Intermediate Accounting
Intermediate Accounting
Accounting
ISBN:
9781259722660
Author:
J. David Spiceland, Mark W. Nelson, Wayne M Thomas
Publisher:
McGraw-Hill Education
Financial and Managerial Accounting
Financial and Managerial Accounting
Accounting
ISBN:
9781259726705
Author:
John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting Principles
Publisher:
McGraw-Hill Education
SEE MORE TEXTBOOKS