Titus Company purchased and used 650 pounds of tomatoes (direct materials) to produce a taco sauce with a 635 pound standard direct materials requirement. The standard materials price is $22.40 per pound. The actual price of the tomatoes was $22.20 per pound.Journalize the entries to record (a) the purchase of the tomatoes and (b) the tomatoes used in production. Titus records standard costs and variances in its accounts.

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The Answer of Titus Company purchased and used 650 pounds of tomatoes (direct materials) to produce a taco sauce with a 635 pound standard direct materials requirement. The standard materials price is $22.40 per pound. The actual price of the tomatoes was $22.20 per pound.Journalize the entries to record (a) the purchase of the tomatoes and (b) the tomatoes used in production. Titus records standard costs and variances in its accounts.

Titus Company Purchased and Used 650 Pounds of Tomatoes (Direct