Question

Dvorak Company produced 1,000 units that require five standard pounds per unit at $2.50 standard price per pound. The company actually used 4,500 pounds in production.a. Journalize the entry to record the standard direct materials used in production. For a compound transaction, if an amount box does not require an entry, leave it blank.b. Work in Progress (DEBIT) ._____c. Direct Materials Quantity Variance (CREDIT) .____d. Materials (CREDIT) ._____

Answer 1

Answer:

Instructions are listed below.

Step-by-step explanation:

Giving the following information:

Dvorak Company produced 1,000 units that require five standard pounds per unit at $2.50 standard price per pound. The company used 4,500 pounds in production.

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (5,000 - 4,500)*2.5= 1,250 favorable

Work in process 12,500

Materials 11,250

Material quantity variance (favorable) 1,250

Step-by-step explanation:

Answer 2

Instructions are listed below.

Step-by-step explanation:

Giving the following information:

Dvorak Company produced 1,000 units that require five standard pounds per unit at $2.50 standard price per pound. The company used 4,500 pounds in production.

Direct material quantity variance= (standard quantity - actual quantity)*standard price

Direct material quantity variance= (5,000 - 4,500)*2.5= 1,250 favorable

Work in process 12,500

Materials 11,250

Material quantity variance (favorable) 1,250