Given the Following Account Balances at the End of the First

question 35

Multiple Choice

Given the following account balances at the end of the first year of operations: Assuming that variances are considered material, the entry and amount of direct labor variances allocated to the Finished Goods Inventory is

• A) Credit $3,740
• B) Debit $2,160
• C) Credit $770
• D) Debit $3,960

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