Response to the following :
Accounting for Materials Quantity Variance
Refer to the data in problem. Make the necessary journal entry to record the transfer of these raw materials into work-in-process inventory
Problem:
Materials Quantity Variance
The company used 5,500 board feet of raw materials with a standard cost of $6.00 per board foot to make 400 tables. The company's standard is 14 board feet per table. Calculate the company's materials quantity variance.