Multiple Choice
The following information pertains to Genie Company: 
What is the entry to record the direct materials cost and variances,assuming that the price variance is recorded when the materials are put into production?
A) Materials 12,000 Materials price variance 2,000
Accounts payable 13,000
B) Work in process 12,000 Materials quantity variance 1,000
Materials price variance 2,000
Materials 11,000
C) Work in process 11,000 Materials price variance 2,000
Materials 13,000
D) Work in process 12,000 Materials price variance 2,000
Materials quantity variance 1,000
Materials 13,000
Correct Answer:
Verified
Correct Answer:
Verified
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