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gulaghasi [49]
3 years ago
14

The Beach Shack Company produced 5,500 cakes that require 3 standard pounds per unit at $3. 00 standard price per pound. The com

pany actually used 16,650 pounds in production. Journalize the entry to record the standard direct materials used in production.
Business
1 answer:
prohojiy [21]3 years ago
4 0

Answer:

Explanation:

Standard pounds per cake = 3 pounds

Standard unit price = $3

Standard pounds 5500 cakes = 16,500 pounds

Actual pounds per 5500 cakes = 16,650

Variance = (16,650 - 16,500)=150

Cost of actual materials used = actual materials * standard price

=16,650*3 =49,950

Cost of work in progress = Standard materials * standard price = 16,500*3= 49.500

Direct material quantity variance = Quantity variance * 3

150*3 = 450

Journal entry

Debit work in progress = 49,500

Debit material quantity variance = 450

Credit Material = 49,950

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