Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. work in process selected accounts with amounts omi

Work in Process Selected accounts with amounts omitted are as follows: Date Transaction Debit amount...

80.2K

Verified Solution

Question

Accounting

Work in Process
Selected accounts with amounts omitted are as follows:
Date Transaction Debit amount Date Transaction Credit amount
Aug. 1 Balance 254,260 Aug. 31 Goods finished 149,390
31 Direct materials X
31 Direct labor 34,700
31 Factory overhead X
Factory Overhead
Date Transaction Debit amount Date Transaction Credit amount
Aug. 131 Costs incurred 91,320 Aug. 1 Balance 14,540
31 Applied (30% of direct labor cost) X
If the balance of Work in Process on August 31 is $209,600, what was the amount debited to Work in Process for direct materials in August?
a. $498,560
b. $79,360
c. $349,170
d. $59,620

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students