For Work Done During August, Printing Press Company Incurred Direct

question 73

Multiple Choice

For work done during August, Printing Press Company incurred direct materials costs of $130,000 and conversion costs of $259,000. 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) $389,000
• B) $388,000
• C) $386,000
• D) $385,000

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Definitions:

Mutated Gene

A gene that has undergone a change in its DNA sequence, which can affect the gene's function.

Biological Adaptation

The process through which organisms adjust and evolve to become better suited to their environment over time.

Unequal Portions

Divisions or allocations of a whole into parts that are not of equal size or value.

Decision Making

The cognitive process of selecting a course of action from among multiple alternatives, often influenced by judgment, reasoning, and preferences.