The firm Up and Upper produces lawn games. PVC piping is a direct material for...
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Accounting
The firm Up and Upper produces lawn games. PVC piping is a direct material for these lawn games. The firm accounts for inventory using a full standard costing system. This period the firm purchased and used a total of 500 feet of PVC piping.
The firm's actual and budgeted lawn games production are the same. Standard quantity is 475 feet of PVC piping.
Standard price is $5 per foot of PVC piping. The firm actually paid $5.10 per foot of PVC piping.
What would be the debit to WIP for direct materials used?
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$2,500
$2,375
$2,442.50
$2,550
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