For Work Done During August, Printing Press Company Incurred Direct

question 94

Multiple Choice

For work done during August, Printing Press Company incurred direct materials costs of $104,000 and conversion costs of $260,000. 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 $1,080 of costs, and the ending balance of the Finished Goods Inventory account was $1,220. There were no beginning inventory balances. What was the ending balance of the Cost of Goods Sold account for August?

• A) $361,700
• B) $362,780
• C) $362,920
• D) $364,000

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Definitions:

Random Assignment

A method used in experiments to place participants into different groups using randomization, which helps ensure that each group is similar at the start of the experiment.

Experimental Design

The blueprint for conducting a scientific study to ensure that the data collected allows for a valid conclusion.

Equalizes

Makes things equal or equivalent in value, quantity, significance, or effect.

Correlational Studies

Research methods that examine the relationship between two or more variables to determine if a change in one is associated with a change in the other(s).