For Work Done During June,Prints Company Incurred Direct Materials Costs

question 24

Multiple Choice

For work done during June,Prints Company incurred direct materials costs of $150,000 and conversion costs of $225,000.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 $2,000 of costs,and the ending balance of the Finished Goods Inventory account was $5,000.There were no beginning inventory balances.
-Using the information provided for Prints Company,how much was cost of goods manufactured during June?

• A)$375,000
• B)$373,000
• C)$370,000
• D)$377,000

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Definitions:

Achievement Motivation

A psychological concept referring to an individual's desire or drive to accomplish goals, succeed, and excel in tasks.

Negative Feedback

A mechanism, process, or signal that is used to diminish or inhibit an action or function, often to maintain homeostasis or balance within a system.

Need for Achievement

Need for Achievement is a psychological trait that drives individuals to pursue and attain goals that they perceive as challenging and worthwhile.

Difficult Challenges

Difficult challenges refer to tasks or situations that are hard to overcome due to their complexity or intensity.