Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. abc recorded the following journal entry in its ge

ABC recorded the following journal entry in its general ledger. Debit Work in Process for...

80.2K

Verified Solution

Question

Accounting

ABC recorded the following journal entry in its general ledger. Debit Work in Process for $10,000 and Direct Materials Price Variance for $8,000. Credit Raw Materials for $18,000. The above journal entry indicates that: a. The materials price variance was favorable b. The materials price variance was unfavorable c. The quantity used in production was less than the budget d. The quantity used in production was more than the budget

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Biology
1.2K views

theft fire vandalism or other damage not related t an accident O the accident related...

Statistics
1.2K views

Question 1 (1 point) The Kellogg Company periodically compares sales across departments. In one particular instance, they...

Mechanical Engineering
1.2K views

The design condition for a space is 77 F (25 C) db and 50 percent relative...

General Management
1.2K views

Create a schedule for the following data that starts June 1st 2016. Assume that one can...

Basic Math
1.2K views

The first few problems ask you to "describe" a random variable, which means: Give the sample space...

Biology
1.2K views

The force that results from water moving across a semipermeable membrane from anarea of low...

Physics
1.2K views

13 An object of mass m slides down a hill of height h of certain...

Physics
1.2K views

7 A glass flask with volume 200 cm is filled to the brim with mercury...

Geometry
1.2K views

Which rule explains why these triangles are congruent S P SAS ASA Q U T...

Accounting
1.2K views

December Transactions: (These are all recorded on 12/29/17) journalize all tranasctions ...

Accounting
1.2K views

1. Nuestros dispositivos, computadoras porttiles y computadoras estn hechos de partes que se han desarrollado...

Accounting
1.2K views

I nned general journal entries 1-14, income statement, and balance sheet.