​ *Actual Hours Are Equal to Standard Hours for Units Produced.​

question 165

Multiple Choice

​
*Actual hours are equal to standard hours for units produced.​
-A company records its inventory purchases at standard cost but also records purchase price variances. The company purchased 5,000 widgets at $8.00 each, and the standard cost for the widgets is $7.60. Which of the following would be included in the journal entry?

• A)debit Accounts Payable, $38,000
• B)credit Direct Materials Price Variance, $2,000
• C)debit Accounts Payable, $2,000
• D)debit Direct Materials Price Variance, $2,000

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