Top Posters
Since Sunday
18
s
5
C
4
j
4
s
4
W
3
a
3
H
3
s
3
a
3
o
3
K
3
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
mlee52381 mlee52381
wrote...
Go to Answer
Posts: 73
Rep: 0 0
A month ago
When using a standard costing system, which of the following should be recorded when direct materials are transferred to the production floor?

▸ Debit Raw Materials Inventory for the standard amount at the standard price, and credit Work in Process Inventory for the actual amount at the actual price, with a debit or credit to Direct Material Quantity Variance.

▸ Debit Raw Materials Inventory for the actual amount at the standard price and credit Work in Process Inventory for the actual amount at the standard price.

▸ Credit Raw Materials Inventory for the standard amount at the standard price and debit Work in Process Inventory for the standard amount at the actual price with a debit or credit to Direct Material Quantity Variance.

▸ Credit Raw Materials Inventory for the actual amount at the standard price and debit Work in Process Inventory for the standard amount at the standard price with a debit or credit to Direct Material Quantity Variance.
Textbook 
Managerial Accounting

Managerial Accounting


Edition: 4th
Author:
Read 17 times
1 Reply
Replies
Answer verified by a subject expert
dressagegal1dressagegal1
wrote...
#1
Posts: 85
Rep: 0 0
A month ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
Credit Raw Materials Inventory for the actual amount at the standard price and debit Work in Process Inventory for the standard amount at the standard price with a debit or credit to Direct Material Quantity Variance.
1

Related Topics

mlee52381 Author
wrote...

A month ago
Smart ... Thanks!
Mkersey12
wrote...

Yesterday
This calls for a celebration Person Raising Both Hands in Celebration
ofsuahasiufhoas
wrote...

2 hours ago
Good timing, thanks!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  198 People Browsing
 295 Signed Up Today
Start New Topic Take the Tour Study Tips Study ToolsNew Topics Trending Browse by Textbook
Related Images
  
 216
  
 230
  
 157
Your Opinion
Which industry do you think artificial intelligence (AI) will impact the most?
Votes: 6
Previous poll results: Where do you get your textbooks?