The _____ people are the earliest known inhabitants of Africa's Mediterranean coast - 832289
The purchasing department is often responsible for the events that create a direct materials price variance. TRUE ___2. A flexible budget expresses variable costs on a per unit basis and fixed costs on a total basis. TRUE ___3. A flexible budget expresses all costs on a per unit basis. FALSE ___4.
The entry is: Direct Materials Inventory is debited for the standard cost of $9,000 (3,000 yards at $3 per yard), Accounts Payable is credited for the actual amount owed, and the difference of $240 is credited to Direct Materials Price Variance.fter this transaction is recorded, the Direct Materials Price Variance account shows an overall credit balance of $190. A credit balance in a variance account is always favorable. In other words, your company's profit will be $190 greater than planned due to the favorable cost of direct materials.