Compound Y23Z Is Used by Carrington Corporation to Make One

question 8

Essay

Compound Y23Z is used by Carrington Corporation to make one of its products. The standard cost of compound Y23Z is $38.70 per ounce and the standard quantity is 4.6 per unit of output. Data concerning the compound in the most recent month appear below:
$\begin{array}{lrr} \text { Cost of material purchased in November, per ounce } &\$39.20\\ \text { Material purchased in November, ounces } &2,800\\ \text {Material used in production in November, ounces } &2,360\\ \text { Actual output in November, units } &500\\\end{array}$

The raw material was purchased on account.
Required:
a. Record the purchase of the raw material at standard cost in a journal entry.
b. Record the use of the raw material in production in a journal entry.

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Definitions:

Phagocytosis

The ingestion of particles by a cell or phagocyte, playing a crucial role in the immune response by clearing pathogens.

Antigen-Antibody Complexes

Molecular structures formed when antibodies bind to their specific antigens, often triggering an immune response.

Eosinophils

A type of white blood cell part of the immune system, playing a key role in combating parasites and involved in allergic reactions and asthma.

Basophils

Granulated white blood cells.