Horngren's Financial & Managerial Accounting, The Financial Chapters, Student Value Edition (5th Edition)
Horngren's Financial & Managerial Accounting, The Financial Chapters, Student Value Edition (5th Edition)
5th Edition
ISBN: 9780133851731
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Chapter C, Problem C.18E
To determine

Subsidiary ledger: It is the secondary ledger account that encloses supporting details of the particular ledger account.

For example, a company maintains separate accounts receivable subsidiary ledger account for each customer, and combines all the accounts receivable subsidiary ledger accounts to form accounts receivable general ledger.

To describe: The posted transactions.

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Degregorio Corporation makes a product that uses a material with the following direct material standards: Standard quantity 4 kilos per unit Standard price $9 per kilo The company produced 7,200 units in November using 29,290 kilos of the material. During the month. the company purchased 31,480 kilos of the direct material at a total cost of $277,024. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for November is: a. $5,592 F b. $5,592 U c. $6,296 F d. $6,296 U
None

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Horngren's Financial & Managerial Accounting, The Financial Chapters, Student Value Edition (5th Edition)

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