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Tom [10]
3 years ago
13

Journalize the following transactions for Combs Company.

Business
1 answer:
lions [1.4K]3 years ago
8 0

Answer:

No      Account Titles and Explanation             Debit       Credit

A.        Raw material inventory                          $13,800

                Direct material price variance                            $740                        

                 ($13,800 - $13,060)

                 Account payable                                                 $13,060

           (To record purchase of materials)

B.      Work in process inventory                          $13,780

         6,890 * ($13,800/6,900)

               Direct material quantity variance                           $220                

               ($13,780 - $13,560)

               Raw materials inventory                                          $13,560

               6,780 * ($13,800/6900)

      (To record materials issued to production)

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