Johnson Manufacturing uses a standard cost system. Standards for direct materials are as follows: Direct materials (pounds per unit of output) Cost per pound of direct materials 6 $7 The company produced 800 units and actually used 5,250 pounds of direct materials. What is the journal entry to record the materials usage? A. Work in Process 33,600 Direct Materials Efficiency Variance 3,150 Raw Materials Inventory 36,750 OB. Work-in Process 39,900 Direct Materials Efficiency Variance 3,150 Raw Materials Inventory 36,750 OC. Work in Process 36,750 Direct Materials Efficiency Variance 3,150 Raw Materials Inventory 39,900 OD. Work-in Process 36,750 Direct Materials Efficiency Variance 3,150 Raw Materials Inventory 33,600

Johnson Manufacturing uses a standard cost system. Standards for direct materials are as follows: Direct materials (pounds per unit of output) Cost per pound of direct materials 6 $7 The company produced 800 units and actually used 5,250 pounds of direct materials. What is the journal entry to record the materials usage? A. Work in Process 33,600 Direct Materials Efficiency Variance 3,150 Raw Materials Inventory 36,750 OB. Work-in Process 39,900 Direct Materials Efficiency Variance 3,150 Raw Materials Inventory 36,750 OC. Work in Process 36,750 Direct Materials Efficiency Variance 3,150 Raw Materials Inventory 39,900 OD. Work-in Process 36,750 Direct Materials Efficiency Variance 3,150 Raw Materials Inventory 33,600

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Description: Johnson Manufacturing uses a standard cost system. Standards for direct materials are as follows:Direct materials (pounds per unit of output)Cost per pound of direct materials6$7The company produced 800 units and actually used 5,250 pounds of direct

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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