During September,a Small Roofing Company Purchased 500 Bundles of a Certain

question 135

Multiple Choice

During September,a small roofing company purchased 500 bundles of a certain type of shingle at a price of $35 per bundle,$5 less than the standard price.The company's standard quantity of this type of shingles is 550 bundles.What is the journal entry to record the purchase of materials?

• A)Materials 20,000Materials price variance 2,500Accounts payable 17,500
• B)Materials 20,000Materials price variance 2,500Accounts payable 22,500
• C)Materials 17,500Materials price variance 2,500Accounts payable 15,000
• D)Materials 20,000Materials price variance 2,750Accounts payable 17,250

---

Definitions:

Green Alga

Single-celled, colonial, or multicelled photosynthetic protist that has chloroplasts containing chlorophylls a and b.

Prokaryotic

Cells that lack a true, membrane-bound nucleus and most other organelles, characteristic of organisms such as bacteria.

Protozoans

Diverse group of unicellular eukaryotic organisms, often considered the simplest animal life forms, living in water or as parasites.