To Record the Use of Direct Materials in Production,the General

question 156

Multiple Choice

To record the use of direct materials in production,the general ledger would include what entry to the materials quantity variance account?

• A) $900 debit.
• B) $900 credit.
• C) $3,600 debit.
• D) $3,600 credit.

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Definitions:

Corporation

A corporation is a legal entity that is separate and distinct from its owners, offering limited liability protection to its shareholders, and is capable of owning property, entering into contracts, and being taxed.

Income Taxes

Taxes imposed by the government on the income earned by individuals and corporations.

Partnerships

A business structure where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Agreement.

Common Stock

Equity securities representing ownership interests in a corporation, providing voting rights and a share in the company's profits.