Question

Selected accounts with some amounts omitted are as follows:

Work in Process
Oct. 1	Balance	22,900	Oct. 31	Goods finished	X
31	Direct materials	94,000
31	Direct labor	186,800
31	Factory overhead	X

Finished Goods
Oct. 1	Balance	12,400
31	Goods finished	339,400

If the balance of Work in Process on October 31 is $209,600, what was the amount of factory overhead applied in October?

a.$94,000

b.$245,300

c.$419,300

d.$186,800

Answer 1

DR	WORK IN PROGRESS ACCOUNT	CR
DATE	PARTICULARS	AMOUNT	DATE	PARTICULARS	AMOUNT
1-Oct	OPENING	$                 22,900.00
	DIRECT MATERIAL A/C	$                 94,000.00	31-Oct	FINISHED GOODS A/C	$               339,400.00
	DIRECT LABOUR A/C	$               186,800.00		(TRANSFERRED TO FINISHED GOODS)
	FACTORY OVERHEAD	$               245,300.00
	(BAL.FIG)
			31-Oct	CLOSING BALANCE	$               209,600.00
	LEDGER TOTAL	$               549,000.00		LEDGER TOTAL	$               549,000.00