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??? James Company manufactures t-shirts. During the year, it manufactured 250,000 t shirts, using 2 hours of direct labor at a rate of $1.50 per
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James Company manufactures t-shirts. During the year, it manufactured 250,000 t shirts, using 2 hours of direct labor at a rate of $1.50 per hout. The materials and labor standards for manufacturing the t-shirts are as follows: Direct materials (6 yards of fabric $3 per vard) $18 Direct labor (2.4 hours $8.00 per hour) 17 It took James 1,400,000 yards at $2.50 per yard to make the 250,000 t-shirts What is the entry to record the purchase of materials ? dehis Maseras 3.500,000 credit Material Price Variance, 700,000 credit Accounts Payable, 4.200,000 b. debit Materials 3.500.000 debit Materials Price Vrience, 750,000 credit Accounts Payable, 4,250,000 O debit Meris, 4.200.000 debit Material Price Variance, 750,000 credit Accounts Payable 4.950,000 d. debit Materials, 4,200,000 credit Materials Price Variance, 700,000 credit Accounts Payable,3,500,000 Step by Step Solution
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