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Selected accounts with amounts omitted are as follows Work in Process Aug. 1 Balance 273,260 Aug....

Selected accounts with amounts omitted are as follows

Work in Process
Aug. 1 Balance 273,260 Aug. 31 Goods finished 142,710
     31 Direct materials X
       31 Direct labor 34,100
     31 Factory overhead X
Factory Overhead
Aug. 1 – 31 Costs incurred 98,240 Aug. 1 Balance 12,770
       31 Applied
(30% of direct labor cost) X

If the balance of Work in Process on August 31 is $214,420, what was the amount debited to Work in Process for direct materials in August?

a.$379,070

b.$92,940

c.$521,780

d.$39,540

Business   Accounting   
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Answer #1

Answer: Option d. $39,540

Work in Process
Aug. 1 Balance 273260 Aug. 31 Goods finished 142710
31 Direct materials 39540
31 Direct labor 34100
31 Factory overhead 10230
31 Balance 214420
Factory Overhead
Aug. 1 - 31 Costs incurred 98240 Aug. 1 Balance 12770
31 Applied
(30% of direct labor cost) 10230

Factory overhead applied = 30% x $34100 = $10230

Direct materials debited to work in process = ($142710 + $214420) - ($273260 + $34100 + $10230) = $357130 - $317590 = $39540

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