Answer the Following Questions Using the Information Below:
Games R

question 82

Multiple Choice

Answer the following questions using the information below:
Games R Us manufactures various games. For March, there were no beginning inventories of direct materials and no beginning or ending work in process. Conversion costs is the only indirect manufacturing cost category currently used. Journal entries are recorded when materials are purchased and when conversion costs are allocated under backflush costing.
$\begin{array}{lr}\text { Conversion costs - March } & \$ 400,000 \\\text { Direct materials purchased - March } & \$ 1,070,000 \\\text { Units produced - March } & 58,800 \\\text { Units sold - March } & 41,800\end{array}$
-Which of the following entries properly records the cost of goods sold for the month?

• A) \(\begin{array} { l }
• \text {Finished Goods }&1,045,000 \\
• \text {Work in Process }&1,045,000 \\
• \end{array}\)
• B) \(\begin{array} { l }
• \text {Cost of Goods Sold }&1,045,000 \\
• \text { Finished Goods}&1,045,000 \\
• \end{array}\)
• C) \(\begin{array} { l }
• \text {Finished Goods }&1,045,000 \\
• \text { Cost of Goods Sold}&1,045,000 \\
• \end{array}\)
• D) \(\begin{array} { l }
• \text {Cost of Goods Sold }&1,045,000 \\ \text {Work in Process }& 1,045,000\\
• \end{array}\)

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