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    "question_id": "4247292",
    "url": "\/study-help\/questions\/if-10000-pounds-of-direct-materials-are-purchased-for-7200-4247292",
    "question_creation_date_js": "2024-06-28T05:39:12-04:00",
    "question_creation_date": "Jun 28, 2024 05:39 AM",
    "meta_title": "[Solved] If 10,000 pounds of direct materials are | SolutionInn",
    "meta_description": "Answer of - If 10,000 pounds of direct materials are purchased for $7,200 on account and the standard cost is $.70 per pound, the | SolutionInn",
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    "question_title_h1": "If 10,000 pounds of direct materials are purchased for $7,200 on account and the standard cost is $.70 per pound, the journal entry to record",
    "question_title": "If 10,000 pounds of direct materials are purchased for $7,200 on account",
    "question_title_for_js_snippet": "If 10,000 pounds of direct materials are purchased for $7,200 on account and the standard cost is $ 70 per pound, the journal entry to record the purchase is A  Raw Materials Inventory 7,200 Accounts Payable 7,200 B  Raw Materials Inventory 7,200 Accounts Payable 7,000 Materials Quantity Variance 200 C  Raw Materials Inventory 7,200 Accounts Payable 7,000 Materials Price Variance 200 D  Raw Materials Inventory 7,000 Materials Price Variance 200 Accounts Payable 7,200",
    "question_description": "<p>If 10,000 pounds of direct materials are purchased for $7,200 on account and the standard cost is $.70 per pound, the journal entry to record the purchase is<\/p> <p> <\/p> <p> A.<\/p> <p> Raw Materials Inventory<\/p> <p> <\/p> <p> 7,200<\/p> <p> <\/p> <p> <\/p> <p> <\/p> <p> Accounts Payable<\/p> <p> <\/p> <p> 7,200<\/p> <p> <\/p> <p> <\/p> <p> B.<\/p> <p> Raw Materials Inventory<\/p> <p> <\/p> <p> 7,200<\/p> <p> <\/p> <p> <\/p> <p> <\/p> <p> Accounts Payable<\/p> <p> <\/p> <p> 7,000<\/p> <p> <\/p> <p> Materials Quantity Variance<\/p> <p> <\/p> <p> 200<\/p> <p> <\/p> <p> C.<\/p> <p> Raw Materials Inventory<\/p> <p> <\/p> <p> 7,200<\/p> <p> <\/p> <p> <\/p> <p> <\/p> <p> Accounts Payable<\/p> <p> <\/p> <p> 7,000<\/p> <p> <\/p> <p> Materials Price Variance<\/p> <p> <\/p> <p> 200<\/p> <p> <\/p> <p> D.<\/p> <p> Raw Materials Inventory<\/p> <p> <\/p> <p> 7,000<\/p> <p> <\/p> <p> Materials Price Variance<\/p> <p> <\/p> <p> 200<\/p> <p> <\/p> <p> <\/p> <p> <\/p> <p> Accounts Payable<\/p> <p> <\/p> <p> 7,200<\/p> <p> <\/p>",
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    "related_book": {
        "title": "Entrepreneurial Finance",
        "isbn": "1305968352, 978-1337635653, 978-1305968356",
        "edition": "6th edition",
        "authors": "J. Chris Leach, Ronald W. Melicher",
        "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/1482.jpg",
        "uri": "\/textbooks\/entrepreneurial-finance-6th-edition-1482",
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    },
    "free_related_book": {
        "isbn": "B006G82J0Y",
        "uri": "\/textbooks\/working-from-home-5th-edition-b006g82j0y-270905",
        "name": "Working From Home",
        "edition": "5th Edition"
    },
    "question_posted": "2024-06-28 05:39:12",
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