Standard Cost Journal Entries Tip Top Corp. produced 2,800 units that require ei

Question

Standard Cost Journal Entries

Tip Top Corp. produced 2,800 units that require eight standard gallons per unit at $6.00 standard price per gallon. The company actually used 23,100 gallons in production.

Journalize the entry to record the standard direct materials used in production. For a compound transaction, if an amount box does not require an entry, leave it blank.

   

  

  

  

  

  

  

  

  

  

Hide

Hint(s)

Journalize the entry to record the standard direct materials used in production. For a compound transaction, if an amount box does not require an entry, leave it blank.

   

  

  

  

  

  

  

  

  

  

Explanation / Answer

Work in Process inventory 134400 =2800*6*8 Direct materials quantity/efficiency variance 4200         Materials inventory 138600 =23100*6

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

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