Atlace Manufacturing uses a standard cost system
Standards for direct materials are as follows:
Direct materials (pounds per unit of output) 3
Cost per pound of direct materials $4
The company plans to produce 3,000 units and has purchased 12,000 pounds of direct materials at a net cost of $43,200. What is the journal entry to record this transaction?
A)
Raw Materials Inventory (12,000 pounds x $4/pound) 48,000
Direct Materials Cost Variance 4,800
Accounts Payable (12,000 pounds x $3.60/pound) 43,200
B)
Raw Materials Inventory (12,000 pounds x $4/pound) 48,000
Direct Materials Cost Variance 4,800
Accounts Payable (12,000 pounds x $3.60/pound) 43,200
C)
Raw Materials Inventory (12,000 pounds x $3.60/pound) 43,200
Direct Materials Cost Variance 4,800
Accounts Payable (12,000 pounds x $4/pound) 48,000
D)
Raw Materials Inventory (12,000 pounds x $3.60/pound) 43,200
Direct Materials Cost Variance 4,800
Accounts Payable (12,000 pounds x $4/pound) 48,000
A
You might also like to view...
Cyrus accepts a position as a part-time clerk at a small hardware store. His manager, Max, wants to confirm Cyrus's hours for the next 10 days. This is a fairly routine and predictable situation, so Max
A. videoconferences with Cyrus. B. asks his lawyer to contact Cyrus. C. e-mails a follow-up to Cyrus. D. mails a handwritten note to Cyrus. E. schedules a meeting with Cyrus.
In the end, corporate social responsibility, sustainability, and environmentalism, whether they are implemented domestically or globally, are about ________ and social media provides an outlet for doing so.
Fill in the blank(s) with the appropriate word(s).
Describe the four-stage strategy typically followed by human resources managers to settle disputes.
What will be an ideal response?
Which of the following is most likely to be an example of an assault?
a. someone bumps into you while walking down the street b. someone holds a gun at your head while threatening you c. someone beats you up in a fist fight d. someone points a gun at you while you are sleeping e. someone wiretaps your phone