Barium Corporation has provided the following data concerning its most important raw material, Compound XYY2:
$$\begin{array} { l r l }
\text { Standard cost } & \$ 23.80 & \text { per liter } \
\text { Stardard quartity } & 5.7 & \text { liters per unit of output } \
\text { Material used in production in August } & 2,350 & \text { liters } \
\text { Actual output in August } & 400 & \text { units }
\end{array}$$
When recording the use of materials in production under a standard costing system, Materials Inventory would be:
A) debited for $55,930.
B) debited for $54,264.
C) credited for $55,930.
D) credited for $54,264.

Question

Barium Corporation has provided the following data concerning its most important raw material, Compound XYY2:
$$\begin{array} { l r l } 
\text { Standard cost } & \$ 23.80 & \text { per liter } \
\text { Stardard quartity } & 5.7 & \text { liters per unit of output } \
\text { Material used in production in August } & 2,350 & \text { liters } \
\text { Actual output in August } & 400 & \text { units }
\end{array}$$
When recording the use of materials in production under a standard costing system, Materials Inventory would be:
A) debited for $55,930.
B) debited for $54,264.
C) credited for $55,930.
D) credited for $54,264.

Quizplus · Accepted Answer

The Answer of Barium Corporation has provided the following data concerning its most important raw material, Compound XYY2:
$$\begin{array} { l r l } 
\text { Standard cost } & \$ 23.80 & \text { per liter } \
\text { Stardard quartity } & 5.7 & \text { liters per unit of output } \
\text { Material used in production in August } & 2,350 & \text { liters } \
\text { Actual output in August } & 400 & \text { units }
\end{array}$$
When recording the use of materials in production under a standard costing system, Materials Inventory would be:
A) debited for $55,930.
B) debited for $54,264.
C) credited for $55,930.
D) credited for $54,264.

Barium Corporation Has Provided the Following Data Concerning Its Most