For Work Done During August,Printing Press Company Incurred Direct Materials

question 120

Multiple Choice

For work done during August,Printing Press Company incurred direct materials costs of $130,000 and conversion costs of $248,000.The company employs a just-in-time operating philosophy and backflush costing.At the end of August,it was determined that the Work in Process Inventory account had been assigned $1,000 of costs,and the ending balance of the Finished Goods Inventory account was $3,000.There were no beginning inventory balances.What is the Cost of Goods Sold account's ending balance for August?

• A) $378,000
• B) $377,000
• C) $375,000
• D) $374,000

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Definitions:

Eating Disorder

A range of psychological disorders characterized by abnormal or disturbed eating habits, which can have serious health consequences.

High Neuroticism

A personality trait that indicates a higher tendency towards emotional instability, anxiety, moodiness, worry, and jealousy.

Low Extraversion

Characterized by being reserved, introspective, and less engaged in social activities.

Agoraphobia

An anxiety disorder characterized by an intense fear of being in places where escape might be difficult or that might lead to panic attacks.