Ninth Question 9. Company S purchased 1,000 units raw materials amounting to $5,000 and used $4,500 worth for the production during the current month. Thestandard price for these raw materials is $5.2 per unit. How much is the materials price variance for the current month if Company S analyzes the varianceat the point of purchase?O $200 favorableO $200 unfavorableO $700 favorableO $700 unfavorable10. T Corporation is authorized to issue 500,000 common stock at $10 par value. As of December 31, 2019 the corporation has 350,000 common stockissued and outstanding. On February 14, 2020, the market price of the stock is $17. On the same date, T Corporation acquired 50,000 stocks at $15. OnMarch 5, 2020, the company reissued 25% of the treasury stocks at $20. Which of the following will be included in the entry to record the transaction onMarch 5, 2020?Debit Treasury Shares $187,500Debit Common Stock $250,000O Credit Additional Paid-in Capital $62,500O Credit Cash $250,000

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9. Company S purchased 1,000 units raw materials amounting to $5,000 and used $4,500 worth for the production during the current month. The standard price for these raw materials is $5.2 per unit. How much is the materials price variance for the current month if Company S analyzes the variance at the point of purchase? $200 favorable $200 unfavorable $700 favorable $700 unfavorable

9. Company S purchased 1,000 units raw materials amounting to $5,000 and used $4,500 worth for the production during the current month. The standard price for these raw materials is $5.2 per unit. How much is the materials price variance for the current month if Company S analyzes the variance at the point of purchase? $200 favorable $200 unfavorable $700 favorable $700 unfavorable

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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