Dvorak Company produced 1,000 units that require five standard pounds per unit at $2.50 standard price per pound

Dvorak Company produced 1,000 units that require five standard pounds per unit at $2.50 standard price per pound. The company actually used 4,500 pounds in production. Journalize the entry to record the standard direct materials used in production.

Answer:

Work in Process (5,000* lbs. × $2.50) 12,500  

Direct Materials Quantity Variance**  1,250 

Materials (4,500 lbs. × $2.50)  11,250 

* 1,000 units × 5 standard lbs. per unit 

** [(4,500 lbs. – 5,000 lbs.) × $2.50]