Marciano Manufacturing Uses a Standard Cost System The Company Plans to Produce 3500 Units and Has Purchased

question 101

Multiple Choice

Marciano Manufacturing uses a standard cost system.Standards for direct materials are as follows: $$\begin{array} { | l | l | } \hline \text { Direct materials (pounds per unit of output) } & 3 \\\hline \text { Cost per pound of direct materials } & \$ 3 \\\hline\end{array}$$ The company plans to produce 3500 units and has purchased on account 15,000 pounds of direct materials at a net cost of $43,200.What is the journal entry to record this transaction?

• A) \[\begin{array} { | l | r | r | }
• \hline \text { Raw Materials Inventory } & 45,000 & \\
• \hline \text { Direct Materials Cost Variance } & & 1800 \\
• \hline \text { Accounts Payable } & & 43,200 \\
• \hline
• \end{array}\]
• B) \[\begin{array} { | c | r | r | }
• \hline \text { Raw Materials Inventory } & 41,400 & \\
• \hline \text { Direct Materials Cost Variance } & 1800 & \\
• \hline \text { Accounts Payable } & & 43,200 \\
• \hline
• \end{array}\]
• C) \[\begin{array} { | c | r | r | }
• \hline \text { Raw Materials Inventory } & 43,200 & \\
• \hline \text { Direct Materials Cost Variance } & 1800 & \\
• \hline \text { Accounts Payable } & & 45,000 \\
• \hline
• \end{array}\]
• D) \[\begin{array} { | l | r | r | }
• \hline \text { Raw Materials Inventory } & 43,200 & \\
• \hline \text { Direct Materials Cost Variance } & & 1800 \\
• \hline \text { Accounts Payable } & & 41,400 \\
• \hline
• \end{array}\]

Comprehend the role of cultural transmission across generations.

Identify the impact of globalization on the pace of cultural change.

Understand ethnocentrism and its effects on intercultural understanding.

Explain the concept of cultural sustainability and the challenges it faces.

---

Definitions:

Flotation Costs

The costs associated with issuing new securities, including underwriting, legal, registration, and other expenses.

Securities

Investment assets that denote a shareholding in a publicly-listed company (stock), a bondholder’s claim against a corporation or government, or ownership rights as outlined in an option contract.

Project Costs

Project Costs include all expenses incurred during the execution of a project, including materials, labor, and overhead.

Subjective Approach

A method based on personal opinions, interpretations, points of view, emotions and judgment.