Brooks Company uses a standaed conting nystem. The following information pertains to direct materials for the month of June:Standard price per hActual purchase price per h.Quanity punchasedQuaity usedSandard quantity allowed for actual outputActual outputSI5.00S14.503,150 be.2,980 he.3,000 he.1,000 unitaBrooks Company reports its material price variances at the time of purchase.What is the journal entry to recond material purchases?O Materials 47,250Materials Price Variance 1,575Accounta Payable 45,675O Materials 47,165Materials Price Variance 1,490Accounts Payable 45,675OMateriala 47,175Materials Price Variance 1,500Accounts Payable 45,675O Materials 44,100Materials Price Variance 1,575Accounts Payable 45,675

Name: Brooks Company uses a standaed conting nystem. The following informat
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Description: Brooks Company uses a standaed conting nystem. The following information pertains to direct materials for the month of June:Standard price per hActual purchase price per h.Quanity punchasedQuaity usedSandard quantity allowed for actual outputActual

Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Business

Accounting

Brooks Company uses a standard conting eystem. The following information pentains to direct materials for the month of Jun Standard price per . Actual purchase price per pormund kuno SI5.00 S14.50 3,150 ha. 2,980 he. pon Ano Standard quantity allowed for actual outpa Actual output 3,000 hs. 1,000 unita Broeks Company reports its material price variancen at the time of purchase. What is the jounal entry to recond material purchases? O Materials 47,250 Materials Price Variance 1.575 Accounta Payahle 45,675 O Materials 47,165 Materials Price Variance 1,490 Accounts Payable 45,675 Materials 47,175 Materials Price Variance 1,500 Accounts Payable 45,675 Materials 44,100 Materials Price Variance 1,575 45.675

Brooks Company uses a standard conting eystem. The following information pentains to direct materials for the month of Jun Standard price per . Actual purchase price per pormund kuno SI5.00 S14.50 3,150 ha. 2,980 he. pon Ano Standard quantity allowed for actual outpa Actual output 3,000 hs. 1,000 unita Broeks Company reports its material price variancen at the time of purchase. What is the jounal entry to recond material purchases? O Materials 47,250 Materials Price Variance 1.575 Accounta Payahle 45,675 O Materials 47,165 Materials Price Variance 1,490 Accounts Payable 45,675 Materials 47,175 Materials Price Variance 1,500 Accounts Payable 45,675 Materials 44,100 Materials Price Variance 1,575 45.675

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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