Asked by Tyler Cluff on May 05, 2024
Verified
Rosser Company produces a container that requires 4 yards of material per unit. The standard price of one yard of material is $4.50. During the month, 9,500 chairs were manufactured using 37,300 yards of material.Journalize the entry to record the standard direct materials used in production.
Standard Direct Materials
The predetermined cost and quantity of materials required for the production of goods, used in budgeting and costing.
- Strengthen the ability to initiate basic journal entries for variations and standard cost transactions.
Verified Answer
LZ
lizzy zarrelloMay 06, 2024
Final Answer :
Work in Process (9,500×4×$4.50)171,000 Direct Materials Quantity Variance 3,150 Materials (37,300×$4.50)167,850\begin{array} { | c | r | r | } \hline \text { Work in Process } ( 9,500 \times 4 \times \$ 4.50 ) & 171,000 & \\\hline \text { Direct Materials Quantity Variance } & & 3,150 \\\hline \text { Materials } ( 37,300 \times \$ 4.50 ) & & 167,850 \\\hline\end{array} Work in Process (9,500×4×$4.50) Direct Materials Quantity Variance Materials (37,300×$4.50)171,0003,150167,850
Learning Objectives
- Strengthen the ability to initiate basic journal entries for variations and standard cost transactions.
Related questions
If a Company Records Inventory Purchases at Standard Cost and ...
The Following Information Comes from the Records of Barney Co ...
The Following Information Comes from the Records of Magno Co ...
Total Overhead Variance. (B) Prepare the Journal Entries to Record ...
The Entry to Record the Payment of Office Salaries Would ...