The first Photography Club dinner that was paid for in advance concluded at 10:00 pm on the last evening of the month. The Club's price for this dinner was $360 at an inventory cost of $240 to Ribs on the Run. Elena did not record this event in the books when she left at 5:00 pm to make the delivery. However, it is still an event that should be recorded for the month because it occurred before midnight.
Which entry should be added to the month?

a. Unearned Revenue (L) 360
b. Sales (R) 360
c. Cost of Goods Sold (E) 240
d. Inventory (A) 240

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: