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Materials Price Variance shows a $3,300 favourable balance. Accounts Payable shows $149,000 of raw materials purchases. What was the amount debited to Raw Materials Inventory for raw materials purchased? (b) The amount debited 152,300 Your Answer Correct Answer (Used) Materials Quantity Variance shows a $2,600 unfavourable balance. Raw Materials Inventory shows a zero balance. What was the amount debited to Work in Process Inventory for direct materials used? The amount debited $ 149,700 (c) Labour Price Variance shows a $1,600 unfavourable balance, Factory Labour shows a debit of $168,200 for wages incurred. What was the amount credited to Wages Payable? The amount credited

Materials Price Variance shows a $3,300 favourable balance. Accounts Payable shows $149,000 of raw materials purchases. What was the amount debited to Raw Materials Inventory for raw materials purchased? (b) The amount debited 152,300 Your Answer Correct Answer (Used) Materials Quantity Variance shows a $2,600 unfavourable balance. Raw Materials Inventory shows a zero balance. What was the amount debited to Work in Process Inventory for direct materials used? The amount debited $ 149,700 (c) Labour Price Variance shows a $1,600 unfavourable balance, Factory Labour shows a debit of $168,200 for wages incurred. What was the amount credited to Wages Payable? The amount credited

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Materials Price Variance shows a $3,300 favourable balance. Accounts Payable shows $149,000 of raw materials purchases. What was the amount debited to Raw Materials Inventory for raw materials purchased? (b) The amount debited 152,300 Your Answer Correct Answer (Used) Materials Quantity Variance shows a $2,600 unfavourable balance. Raw Materials Inventory shows a zero balance. What was the amount debited to Work in Process Inventory for direct materials used? The amount debited $ 149,700 (c) Labour Price Variance shows a $1,600 unfavourable balance, Factory Labour shows a debit of $168,200 for wages incurred. What was the amount credited to Wages Payable? The amount credited
Transcribed Image Text:Materials Price Variance shows a $3,300 favourable balance. Accounts Payable shows $149,000 of raw materials purchases. What was the amount debited to Raw Materials Inventory for raw materials purchased? (b) The amount debited 152,300 Your Answer Correct Answer (Used) Materials Quantity Variance shows a $2,600 unfavourable balance. Raw Materials Inventory shows a zero balance. What was the amount debited to Work in Process Inventory for direct materials used? The amount debited $ 149,700 (c) Labour Price Variance shows a $1,600 unfavourable balance, Factory Labour shows a debit of $168,200 for wages incurred. What was the amount credited to Wages Payable? The amount credited
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