Recording Standards in Accounts Cioffi Manufacturing Company incorporates standa

Question

Recording Standards in Accounts

Cioffi Manufacturing Company incorporates standards in its accounts and identifies variances at the time the manufacturing costs are incurred. Journalize the entries to record the following transactions:

a. Purchased 2,450 units of copper tubing on account at $52.00 per unit. The standard price is $48.50 per unit. For a compound transaction, if an amount box does not require an entry, leave it blank.

Feedback

b. Used 1,900 units of copper tubing in the process of manufacturing 200 air conditioners. Ten units of copper tubing are required, at standard, to produce one air conditioner. For a compound transaction, if an amount box does not require an entry, leave it blank.

a. Materials Direct Materials Price Variance Accounts Payable

Explanation / Answer

Answer

a

b

date Account title and explanation ref debit credit direct material 118825 direct material price variance 8575 accounts payable 127400

Related Questions

Navigate

• Browse (All)
• Browse R
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.