Delta corporation acquires 10,000 shares of its own $0.01 par value common stock at $10 per share. it later resells the 10,000 shares of treasury stock for $12. the entry to record this transaction will involve a:

debit to cash for $100,000,credit to additional paid-in capital for $20,000,credit to common stock for $100,credit to treasury stock for $120,000.

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: