Compound V11V is used to make Hickenbottom Corporation's major product. The standard cost of V11V is $20.70 per ounce and the standard quantity is 2.80 ounces per unit of output. In the most recent month, 1,300 ounces of the raw material were purchased at a cost of $20.20 per ounce. When recording the purchase of materials, Raw Materials would be:
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debited for $26,910. |
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debited for $26,260. |
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credited for $26,910. |
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credited for $26,260. |