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 charged to the Cost of Goods Sold account during June?
A)$378,000
B)$380,000
C)$375,000
D)$368,000

Question

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 charged to the Cost of Goods Sold account during June?
A)$378,000
B)$380,000
C)$375,000
D)$368,000

Quizplus · Accepted Answer

The Answer of 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 charged to the Cost of Goods Sold account during June?
A)$378,000
B)$380,000
C)$375,000
D)$368,000

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