or Hours Standard Cost
Direct materials 6 board feet $9.00
Direct labor 0.8 hours $9.60
There were no inventories of any kind on August 1. During August the following events occurred: Purchased 15000 board feet at the total cost of $24000.
Used 12000 board feet to produce 2100 Mips.
Used 1700 hours of direct labor time at a total cost of $20060. To record the purchase of direct materials the general ledger would include what entry to the Materials Price Variance Account? a $1500 credit
b $1500 debit
c $6000 credit
d $6000 debit