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During June, Propene Company Produced 20,000 Chainsaw Blades

Question 151

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During June, Propene Company produced 20,000 chainsaw blades.The standard quantity of material allowed per unit was 2 pounds of steel per blade at a standard cost of $4 per pound.The actual purchase price was $5 per pound.Propene determined that it had a favorable materials usage variance of $2,000 for June.What is the journal entry to record the issuance and usage of materials?


A)
During June, Propene Company produced 20,000 chainsaw blades.The standard quantity of material allowed per unit was 2 pounds of steel per blade at a standard cost of $4 per pound.The actual purchase price was $5 per pound.Propene determined that it had a favorable materials usage variance of $2,000 for June.What is the journal entry to record the issuance and usage of materials? A) B) C) D)
B)
During June, Propene Company produced 20,000 chainsaw blades.The standard quantity of material allowed per unit was 2 pounds of steel per blade at a standard cost of $4 per pound.The actual purchase price was $5 per pound.Propene determined that it had a favorable materials usage variance of $2,000 for June.What is the journal entry to record the issuance and usage of materials? A) B) C) D)
C)
During June, Propene Company produced 20,000 chainsaw blades.The standard quantity of material allowed per unit was 2 pounds of steel per blade at a standard cost of $4 per pound.The actual purchase price was $5 per pound.Propene determined that it had a favorable materials usage variance of $2,000 for June.What is the journal entry to record the issuance and usage of materials? A) B) C) D)
D) During June, Propene Company produced 20,000 chainsaw blades.The standard quantity of material allowed per unit was 2 pounds of steel per blade at a standard cost of $4 per pound.The actual purchase price was $5 per pound.Propene determined that it had a favorable materials usage variance of $2,000 for June.What is the journal entry to record the issuance and usage of materials? A) B) C) D)

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