Marusarz Corporation has provided the following data concerning its most important raw material,compound F55M: When recording the purchase of materials,Raw Materials would be:
A)credited for $74,120.
B)debited for $73,270.
C)debited for $74,120.
D)credited for $73,270.

Question

Marusarz Corporation has provided the following data concerning its most important raw material,compound F55M:  When recording the purchase of materials,Raw Materials would be:
A)credited for $74,120. 
B)debited for $73,270. 
C)debited for $74,120. 
D)credited for $73,270.

Quizplus · Accepted Answer

Raw Materials is credited for the standard cost of the materials purchased which is
1,700 liters × $43.60 per liter = $74,120.

Marusarz Corporation Has Provided the Following Data Concerning Its Most