Barium Corporation Has Provided the Following Data Concerning Its Most

question 134

Multiple Choice

Barium Corporation has provided the following data concerning its most important raw material,Compound XYY2:
$$\begin{array} { | l | r | } \hline \text { Standard cost, per liter } & \$ 23.80 \\\hline \text { Standard quantity, liters per unit of output } & 5.7 \\\hline \text { Material used in production in August, liters } & 2,350 \\\hline \text { Actual output in August, units } & 400 \\\hline\end{array}$$ When recording the use of materials in production,Raw Materials would be:

• A) debited for $55,930.
• B) debited for $54,264.
• C) credited for $55,930.
• D) credited for $54,264.

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Definitions:

Assets

Resources owned by a person or a company, regarded as having value and available to meet debts, commitments, or legacies.

Debt Securities

Securities that represent loans to a corporation.

Bonds

Financial securities that represent a loan made by an investor to a borrower, typically corporate or governmental, that pays back interest over time.

Stocks

Financial instruments that represent ownership shares in a company, allowing investors to partake in the company's profits and governance.