For Work Done During August, Printing Press Company Incurred Direct

question 31

Multiple Choice

For work done during August, Printing Press Company incurred direct materials costs of $130,000 and conversion costs of $221,000. The company employs a traditional operating philosophy. 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. How much was cost of goods manufactured during August?

• A) $351,000
• B) $350,000
• C) $348,000
• D) $347,000

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