160.Robin Company purchased and used 520 pounds of direct materials to produce a product with a 510 pound standarddirect materials requirement. The standard materials price is $2.10 per pound. The actual materials price was $2.00per pound.
Prepare the journal entries to record (1) the purchase of the materials and (2) the material entering production.
161.Titus Company purchased and used 650 pounds of tomatoes (direct materials) to produce a taco sauce with a 635pound standard direct materials requirement. The standard materials price is $22.40 per pound. The actual price ofthe tomatoes was $22.20 per pound. Prepare the journal entries to record (1) the purchase of the tomatoes and (2)the tomatoes entering production. Titus records standards and variances in the general ledger.
162.Rosser Company produces a container that requires 4 yards of material per unit. The standard price of one yard ofmaterial is $4.50. During the month, 9,500 chairs were manufactured using 37,300 yards of material.
Journalize the entry to record the standard direct materials used in production.
163.Robin Company purchased and used 500 pounds of direct materials to produce a product with a 520 pound standarddirect materials requirement. The standard materials price is $1.90 per pound. The actual materials price was $2.00per pound.
Prepare the journal entries to record (1) the purchase of the materials and (2) the material entering production.