TB MC Qu, 10B-45 (Static) Neuhaus Corporation manufactures... Neuhaus Corporation manufactures one product it does not maimain any beginning or ending Work in Process inventories. The compary uses a standard cost system in which inventorles are recorded at their standard costs. There is no variable manufocturing overhead. The standard cost card for the company's only product is as follows: During the yeac, the company comploted the following transactions: a. Purchaied 52.900 gations of raw material at a price of $760 per gallon b. Used 46.820 pallons of the raw material to produce 27,600 units of work in process. Asume that all transactions ave recorded on the below worksheet, which is simiar to the worksheet thown in your lext except that it has been alvided into awo parts so that it tis on one poge. The beginning balances in each of the accounts have been given. PPsE (net stands for Property. Piant, and Equipment net of depreciation. When the row materists used in production are rocoeded in transaction (bt above, which of the following entrios wa be made? ufoctures one product it does not maintain any beginning or ending Work in Process inventories. The compony uses a standard cost system in reded at their standard costs, There is no variable manufacturing overbead. The standard cost card for the company's only product is as follows: Dary completed the following transactions. ons of raw material at a price of $7.60 per gallon. t the raw material to produce 27,600 units of work in process. Ons are recorded on the below worksheet, which is similar to the worksheet shown in your text except that it has been divided into two parts so that it ainning balances in each of the accounts have been given. PPSE (net) stands for Property. Plant, and Equipment net of depreciation. used in production are recorded in transoction (b) above, which of the following entries will be made? When the raw materials used in production are recorded in transaction (b) above, which of the following entries will be made? Multiple Choice $750 in the Materials Quantity Variance column $750 in the Materiais Price Variance column (\$750) in the Materials Quantity Variance column (\$750) in the Materials Price Variance column