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:

Id Functioning

Aspects of personality in psychoanalytic theory that are driven by basic instinctual drives and desires.

Parents

The caregivers of a child who are responsible for their upbringing, support, and development.

Development Stages

Phases of growth that individuals pass through from infancy to adulthood, characterized by psychological and physical changes.

Generativity

A concern for establishing and guiding the next generation, typically expressed through parenting, teaching, and community involvement.