For work done during August, Printing Press Company incurred direct materials costs of $151,000 and conversion costs of $250,000 . 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 $1,000 of costs, and the ending balance of the Finished Goods Inventory account was $3,000 . There were no
beginning inventory balances. How much was charged to the Cost of Goods Sold account during August?
a. $401,000
b. $400,000
c. $398,000
d. $397,000
D
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