Acompany records its inventory purchases at standard cost but also records purchase price variances. the company purchased 5,000 widgets at $8.00 each, and the standard cost for the widgets is $7.60. which of the following would be included in the journal entry? a. debit accounts payable, $38,000 b. credit direct materials price variance, $2,000 c. debit direct materials price variance, $2,000 d. debit accounts payable, $2,000

Warner inc. sells a high-speed retrieval system for mining information. it provides the following information for the year. budgeted actual overhead cost $965,700 $905,000 machine hours 58,570 49,200 direct labor hours 107,300 104,200 overhead is applied on the basis of direct labor hours. compute the predetermined overhead rate. predetermined overhead rate $ per direct labor hour link to text determine the amount of overhead applied for the year. the amount of overhead applied $