Esteban Products produces instructional aids, including white boards, which use colored markers instead of chalk. These are
Question:
During the first month of the year, 3,200 boards were produced. Information concerning actual costs and usage of materials follows:
Materials purchased ..........38,000 lbs. @$ 8.35
Materials used ............37,500 lbs.
Required:
1. Compute the materials price and usage variances.
2. Prepare journal entries for all activity relating to materials.
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Related Book For
Cornerstones of Financial and Managerial Accounting
ISBN: 978-1111879044
2nd edition
Authors: Rich, Jeff Jones, Dan Heitger, Maryanne Mowen, Don Hansen
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