loader  Loading... Please wait...

Question(s) / Instruction(s):

A company records their inventory purchases at standard cost but also records purchase price variances. The company purchased 5,000 widgets $8.00; the standard cost for the widgets is $7.80. Which of the following would be included in the journal entry?
a)    $39,000 Credit to Accounts Payable
b)    $1,000 Debit to Direct Materials Price Variance
c)    $1,000 Credit to Direct Materials Price Variance
d)    $39,000 Debit to Accounts Payable

Find Similar Answers by Subject


Student Reviews

Rate and review your solution! (Please rate on a Scale of 1 - 5. Top Rating is 5.)


Expert's Answer
Download Solution:
$1.79

This solution includes:

  • Plain text
  • Cited sources when necessary
  • Attached file(s)
  • Solution Document(s)



Reach Us

408-538-8534

20-3582-4059

39-008-4233

+1-408-904-6494