The firm Up and Upper produces lawn games. PVC piping is a direct material for these lawn games. The firm accounts for inventory using a full standard costing system. This period the firm purchased and used a total of 500 feet of PVC piping.

The firm's actual and budgeted lawn games production are the same. Standard quantity is 475 feet of PVC piping.

Standard price is $5 per foot of PVC piping. The firm actually paid $5.10 per foot of PVC piping.

What would be the debit to WIP for direct materials used?

Answers

$2,500

$2,375

$2,442.50

$2,550