Robin Company Purchased and Used 520 Pounds of Direct Materials

question 134

Essay

Robin Company purchased and used 520 pounds of direct materials to produce a product with a 510 pound standard direct materials requirement.The standard materials price is $2.10 per pound.The actual materials price was $2.00 per pound.
Prepare the journal entries to record 1 the purchase of the materials and 2 the material entering production.

---

Definitions:

Response Strengthened

This term describes the process by which a behavior becomes more likely to occur as a result of reinforcement.

Negative Reinforcement

A behavioral principle where the removal of an unpleasant stimulus following a desired behavior increases the likelihood of the behavior occurring again.

Positive Reinforcement

A method of strengthening desired behaviors by presenting a desirable stimulus after the behavior occurs.

Probability

A measure or estimation of how likely it is that an event will occur, expressed as a number between 0 and 1, where 1 denotes certainty.