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 Direct Materials Price Variance Accounts Payable Feedback Debit (unfavorable) or credit (favorable) the direct materials price variance Debit (unfavorable) or credit (favorable) the direct materials quantity variance 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 Direct Materials Quantity Variance Materials

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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

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
	Direct Materials Price Variance
	Accounts Payable

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Debit (unfavorable) or credit (favorable) the direct materials price variance.

Debit (unfavorable) or credit (favorable) the direct materials quantity variance.

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.