question quality cabinet company uses a standard costing system and produced 2 130 c 4291680
Quality Cabinet Company uses a standard costing system and produced 2,130 cabinets during May. The standard cost of wood is $22 per linear foot, and the standard quantity for each cabinet is 29 linear feet. During May, the company purchased 64,370 linear feet of wood for $1,287,400, and 63,170 feet were used in production. The company purchases all materials on account.
Material Price Variance:128,740 F
Material quantity variance: 30,800 U
record a entry for material purchased
record a entry for material used in production