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The Od Company makes and sells a single product called a Kitt. Od employs a standard costing system. Each Kitt has a standard cost of 5 pounds of material at $12 per pound and 0.9 direct labor hours at $15 per hour. There were no inventories of any kind on June 1. During June, the following events occurred: - Purchased 17,000 pounds of material at a total cost of $190,000. - Used 15,000 pounds of material to produce 2,400 Kitts. - Used 1,900 hours of direct labor time at a total cost of $38,000. To record the use of direct materials in production, the general ledger would include what kind of entry to the Direct Materials Quantity Variance Account? a) $46,000 debit. b) $60,000 credit. c) $60,000 debit. d) $36,000 debit.

The Od Company makes and sells a single product called a Kitt. Od employs a standard costing system. Each Kitt has a standard cost of 5 pounds of material at $12 per pound and 0.9 direct labor hours at $15 per hour. There were no inventories of any kind on June 1. During June, the following events occurred: - Purchased 17,000 pounds of material at a total cost of $190,000. - Used 15,000 pounds of material to produce 2,400 Kitts. - Used 1,900 hours of direct labor time at a total cost of $38,000. To record the use of direct materials in production, the general ledger would include what kind of entry to the Direct Materials Quantity Variance Account? a) $46,000 debit. b) $60,000 credit. c) $60,000 debit. d) $36,000 debit.

Cornerstones of Cost Management (Cornerstones Series)
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter9: Standard Costing: A Functional-based Control Approach
Section: Chapter Questions
Problem 28P: Haversham Corporation produces dress shirts. The company uses a standard costing system and has set...
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The Od Company makes and sells a single product called a Kitt. Od employs a standard costing system. Each Kitt has a standard cost of 5 pounds of material at $12 per pound and 0.9 direct labor hours at $15 per hour. There were no inventories of any kind on June 1. During June, the following events occurred: - Purchased 17,000 pounds of material at a total cost of $190,000. - Used 15,000 pounds of material to produce 2,400 Kitts. - Used 1,900 hours of direct labor time at a total cost of $38,000. To record the use of direct materials in production, the general ledger would include what kind of entry to the Direct Materials Quantity Variance Account? a) $46,000 debit. b) $60,000 credit. c) $60,000 debit. d) $36.000 debit.
Transcribed Image Text:The Od Company makes and sells a single product called a Kitt. Od employs a standard costing system. Each Kitt has a standard cost of 5 pounds of material at $12 per pound and 0.9 direct labor hours at $15 per hour. There were no inventories of any kind on June 1. During June, the following events occurred: - Purchased 17,000 pounds of material at a total cost of $190,000. - Used 15,000 pounds of material to produce 2,400 Kitts. - Used 1,900 hours of direct labor time at a total cost of $38,000. To record the use of direct materials in production, the general ledger would include what kind of entry to the Direct Materials Quantity Variance Account? a) $46,000 debit. b) $60,000 credit. c) $60,000 debit. d) $36.000 debit.
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