Answered step by step
Verified Expert Solution
Question
1 Approved Answer
The following accounts are from last year's books of Sharp Manufacturing: Raw Materials Debit Credit Balance 0 (b) 157,800 (a) 173,500 15,700 Work In Process
The following accounts are from last year's books of Sharp Manufacturing:
Raw Materials | |||
---|---|---|---|
Debit | Credit | ||
Balance | 0 | (b) | 157,800 |
(a) | 173,500 | ||
15,700 |
Work In Process | |||
---|---|---|---|
Debit | Credit | ||
Balance | 0 | (f) | 525,200 |
(b) | 133,900 | ||
(c) | 171,800 | ||
(e) | 219,500 | ||
0 |
Finished Goods | |||
---|---|---|---|
Debit | Credit | ||
Balance | 0 | (g) | 479,000 |
(f) | 525,200 | ||
46,200 |
Manufacturing Overhead | |||
---|---|---|---|
Debit | Credit | ||
(b) | 23,900 | (e) | 219,500 |
(c) | 27,900 | ||
(d) | 159,800 | ||
7,900 |
Cost of Goods Sold | |||
---|---|---|---|
Debit | Credit | ||
(g) | 479,000 | ||
Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of direct materials used for the year?Multiple Choice
-
$157,800
-
$173,500
-
$133,900
-
$171,800
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started