Multiple Choice
Reference: 11-05
The Dexon Company makes and sells a single product called a Mip and employs a standard costing system. The following standards have been established for one unit of Mip: There were no inventories of any kind on August 1. During August, the following events occurred: Purchased 15,000 board metres at the total cost of $24,000.
Used 12,000 board feet to produce 2,100 Mips.
Used 1,700 hours of direct labour time at a total cost of $20,060.
-To record the incurrence of direct labour costs and its use in production, the general ledger would include what entry to the labour efficiency variance account?
A) $240 debit.
B) $1,200 credit.
C) $480 credit.
D) $1,200 debit.
Correct Answer:

Verified
Correct Answer:
Verified
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