Opal Manufacturing uses a standard cost system. Standards for direct materials are as follows: Direct materials...

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Opal Manufacturing uses a standard cost system. Standards for direct materials are as follows: Direct materials (pounds per unit of output) Cost per pound of direct materials 5 $2 The company plans to produce 300 units and has purchased on account 1,500 pounds of direct materials at a net cost of $2,250. What is the journal entry to record the purchase of materials? Opal Manufacturing uses a standard cost system. Standards for direct materials are as follows: Direct materials (pounds per unit of output) Cost per pound of direct materials 5 $2 The company plans to produce 300 units and has purchased on account 1,500 pounds of direct materials at a net cost of $2,250. What is the journal entry to record the purchase of materials?

Answer rating: 100% (QA)

To record the purchase of materials Opal Manufacturing would make the following journal entry ... View the full answer