Recording Standards in Accounts

Cioffi Manufacturing Company incorporates standards in its accounts and identifies variances at the time the manufacturing costs are incurred. Journalize the entries to record the following transactions:

a. Purchased 2,450 units of copper tubing on account at $52.00 per unit. The standard price is $48.50 per unit. If an amount box does not require an entry, leave it blank.

a.	Materials	fill in the blank 010353f7302902a_2	fill in the blank 010353f7302902a_3
	Direct Materials Price Variance	fill in the blank 010353f7302902a_5	fill in the blank 010353f7302902a_6
	Accounts Payable	fill in the blank 010353f7302902a_8	fill in the blank 010353f7302902a_9

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b. Used 1,900 units of copper tubing in the process of manufacturing 200 air conditioners. Ten units of copper tubing are required, at standard, to produce one air conditioner. If an amount box does not require an entry, leave it blank.

b.	Work in Process	fill in the blank c3239b04dff504e_2	fill in the blank c3239b04dff504e_3
	Direct Materials Quantity Variance	fill in the blank c3239b04dff504e_5	fill in the blank c3239b04dff504e_6
	Materials	fill in the blank c3239b04dff504e_8	fill in the blank c3239b04dff504e_9