The following partially completed T-accounts summarize transactions for Farwest Corporation during the year: The direct materials cost was:
A)$8,000
B)$10,000
C)$7,400
D)$4,600

Question

The following partially completed T-accounts summarize transactions for Farwest Corporation during the year:       The direct materials cost was:
A)$8,000 
B)$10,000 
C)$7,400 
D)$4,600

Quizplus · Accepted Answer

In the direct materials account, there is a debit of $14,400 (beginning balance) plus a debit of $10,600 (purchases) and a credit of $17,600 (ending balance), which gives us a total of $7,400 in direct materials cost.

The Following Partially Completed T-Accounts Summarize Transactions for Farwest Corporation