On september 12, ryan company sold merchandise in the amount of $5,800 to johnson company, with credit terms of 2/10, n/30. the cost of the items sold is $4,000. johnson uses the periodic inventory system of accounting for purchases. johnson pays the invoice on september 18, and takes the appropriate discount

the journal entry that johnson makes on september 18 is

(a) 5,684 purchases, cash 5,684
(b) 4,000 accounts payable, merchandise inventory 80, cash 3,920
(c) 5,800 accounts payable, purchases discounts 116, cash 5,684
(d) 5,684 accounts payable, cash 5,684
(e) 5,684 cash, 116 purchases discounts, accounts payable 5,800

Post test question number 9 for entering the job market

Experienced problem solvers always consider both the value and units of their answer to a problem. why?

Doogan corporation makes a product with the following standard costs: standard quantity or hours standard price or rate direct materials 2.0 grams $ 7.00 per gram direct labor 1.6 hours $ 12.00 per hour variable overhead 1.6 hours $ 6.00 per hour the company produced 5,000 units in january using 10,340 grams of direct material and 2,320 direct labor-hours. during the month, the company purchased 10,910 grams of the direct material at $7.30 per gram. the actual direct labor rate was $12.85 per hour and the actual variable overhead rate was $5.80 per hour. the company applies variable overhead on the basis of direct labor-hours. the direct materials purchases variance is computed when the materials are purchased. the materials quantity variance for january is: