The Following Information Pertains to Genie Company: What Is

question 86

Multiple Choice

The following information pertains to Genie Company: What is the entry to record the direct materials cost and variances,assuming that the price variance is recorded when the materials are put into production?

• A)Materials 12,000 Materials price variance 2,000 Accounts payable 13,000 ​
• B)Work in process 12,000 Materials quantity variance 1,000 Materials price variance 2,000 Materials 11,000 ​
• C)Work in process 11,000 Materials price variance 2,000 Materials 13,000 ​
• D)Work in process 12,000 Materials price variance 2,000 Materials quantity variance 1,000 Materials 13,000

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Definitions:

Pellets

Small, compressed objects or particles, often used as food for pets or as ammunition in air guns.

Discrimination

Bias and discriminatory actions against persons due to their race, age, or gender.

Pigeon

A bird of the family Columbidae, known for its ability to find its way home over long distances and commonly used in research in psychology.

Peck

A brief, pointed contact or strike, typically referring to the action of a bird using its beak.