Journalize the following transactions for Carla Vista Company. (a) (b) Purchased 5,900 units of raw materials on account for $10,930. The standard cost was $11,800. Issued 5,600 units of raw materials for production. The standard units were 5,740. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter3: Analyzing And Recording Transactions
Section: Chapter Questions
Problem 10PB: Prepare journal entries to record the following transactions. Create a T-account for Accounts...
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Journalize the following transactions for Carla Vista Company.
(a) Purchased 5,900 units of raw materials on account for $10,930. The standard cost was $11,800.
(b)
Issued 5,600 units of raw materials for production. The standard units were 5,740.
(List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
No. Account Titles and Explanation
(a)
(b)
Raw Materials Inventory
Materials Price Variance
Accounts Payable
Work in Process Inventory
Materials Quantity Variance
Raw Materials Inventory
Debit
11800
Credit
10930
Transcribed Image Text:Journalize the following transactions for Carla Vista Company. (a) Purchased 5,900 units of raw materials on account for $10,930. The standard cost was $11,800. (b) Issued 5,600 units of raw materials for production. The standard units were 5,740. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation (a) (b) Raw Materials Inventory Materials Price Variance Accounts Payable Work in Process Inventory Materials Quantity Variance Raw Materials Inventory Debit 11800 Credit 10930
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