The following accounts are from last year's books of Sharp Manufacturing: Raw Materials Work In Process Debit Balance (a) Credit Debit (b) 158,000 174,000 Balance (b) 16,000 (c) (e) Credit e (f) 526,000 134,000 172,000 220,000 e Finished Goods Manufacturing Overhead Debit Credit Debit Credit Balance (f) e (g) 526,000 46,000 480,000 (b) (c) 24,000 (e) 220,000 28,000 (d) 160,000 8,000 Cost of Goods Sold Debit Credit (g) 480,000 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 $174,000 $134,000 $158,000 $172,000

The following accounts are from last year's books of Sharp Manufacturing: Raw Materials Work In Process Debit Balance (a) Credit Debit (b) 158,000 174,000 Balance (b) 16,000 (c) (e) Credit e (f) 526,000 134,000 172,000 220,000 e Finished Goods Manufacturing Overhead Debit Credit Debit Credit Balance (f) e (g) 526,000 46,000 480,000 (b) (c) 24,000 (e) 220,000 28,000 (d) 160,000 8,000 Cost of Goods Sold Debit Credit (g) 480,000 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 $174,000 $134,000 $158,000 $172,000

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Description: The following accounts are from last year's books of Sharp Manufacturing:Raw MaterialsWork In ProcessDebitCreditDebitCreditBalance(a)0 (b)174,00016,000158,000 Balancee (f)526,000(b)134,000(c)172,000(e)220,0000Finished GoodsManufacturing OverheadDebi

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6PA: During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of...

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