Alliance Company budgets production of 32,000 units in January and 36,000 units in the February. Each finished unit requires 3 pounds of raw material K that costs $2.00 per pound. Each month's ending raw materials inventory should equal 30% of the following month's budgeted materials. The January 1 inventory for this material is 28,800 pounds. What is the budgeted materials cost for January? Multiple Choice $192,000. $256,800. $134,400. $122,400. $199,200. Wallace, Simpson, and Prince are partners and share income and losses in a 2:6:2 ratio. The partnership's capital balances are Wallace, $66,560; Simpson, $76,800; and Prince, $61,440. Royal is admitted to the partnership on July 1 with a 20% equity and invests $51,200. The partnership would record the admission of Royal into the partnership as: Debit Cash $51,200; credit Simpson, Capital $10,240, credit Royal, Capital $40,960. Debit Cash $20,480; credit Prince, Capital $20,480. Debit Cash $41,200; debit Wallace, Capital $2,000; debit Simpson, Capital, $6,000; debit Prince, Capital $2,000; credit Royal, Capital $51,200. Debit Wallace, Capital $10,240; debit Simpson, Capital, $30,720; debit Prince, Capital $10,240; credit Royal, Capital $51,200. Debit Cash $51,200; credit Royal, Capital $51,200. The following company information is available. The direct materials quantity variance is: Direct materials used for production Standard quantity for units produced Standard cost per gallon of direct material Actual cost per gallon of direct material 36,000 gallons 34,100 gallons $9.00 $9.10 Multiple Choice $17,100 unfavorable. $20,700 unfavorable. $11,000 favorable. $20,700 favorable. O $11,000 unfavorable