Standard Cost Journal EntriesBellingham Company produced 4,400 units that require eight standard pounds per unit at a $8standard price per pound. The company actually used 36,300 pounds in production.Journalize the entry to record the standard direct materials used in production. If an amountbox does not require an entry, leave it blank. Standard Product CostAtlas Furniture Company manufactures designer home furniture. Atlas uses a standard costsystem. The direct labor, direct materials, and factory overhead standards for an unfinisheddining room table are as follows:Direct labor:standard rate$17.00 per hr.standard time per unit3.5 hrs.Direct materials (oak):standard price$10.50 per bd. ft.standard quantity20 bd. ft.Variable factory overhead:standard rate$2.80 per direct labor hr.Fixed factory overhead:standard rate$0.80 per direct labor hr.a. Determine the standard cost per dining room table. If required, round your answer to twodecimal places.per tableb. A standard cost system provides Atlas Furniture Company's management a cost control toolusing the principle ofUsing this principle,costdeviations from standards can be investigated and corrected.

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Description: Standard Cost Journal EntriesBellingham Company produced 4,400 units that require eight standard pounds per unit at a $8standard price per pound. The company actually used 36,300 pounds in production.Journalize the entry to record the standard direc

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Standard Cost Journal Entries Bellingham Company produced 4,400 units that require eight standard pounds per unit at a $8 standard price per pound. The company actually used 36,300 pounds in production. Journalize the entry to record the standard direct materials used in production. If an amount box does not require an entry, leave it blank.

Standard Cost Journal Entries Bellingham Company produced 4,400 units that require eight standard pounds per unit at a $8 standard price per pound. The company actually used 36,300 pounds in production. Journalize the entry to record the standard direct materials used in production. If an amount box does not require an entry, leave it blank.

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter9: Evaluating Variances From Standard Costs

Section: Chapter Questions

Problem 5BE: Standard cost journal entries Bellingham Company produced 15,000 units that require 2.5 standard...

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