Drake Company Purchased Materials on Account

question 14

Multiple Choice

Drake Company purchased materials on account. The entry to record the purchase of materials having a standard cost of $1.50 per pound from a supplier at $1.60 per pound would include a:

• A) credit to Raw Materials Inventory.
• B) debit to Work in Process.
• C) credit to Materials Price Variance.
• D) debit to Materials Price Variance.

---

Definitions:

Schizophrenia

An enduring, intense psychological condition identified by disruptions in thought processes, sensory interpretation, emotional response, communication, self-awareness, and conduct.

Dopamine

A neurotransmitter involved in reward, motivation, and regulation of movement, among other functions.

Neurotransmitter

Chemical messengers that enable signal transmission from one nerve cell to another across synapses in the nervous system.

Depersonalization/Derealization Disorder

A psychiatric disorder characterized by persistent or recurrent feelings of detachment from one's own body or mental processes, or unreality of one's surroundings.