On october 1, sam's painting service borrows $150,000 from national bank on a 3-month, $150,000, 4% note. the entry by sam's painting service to record payment of the note and accrued interest on january 1 isdr notes payable 150,000; dr interest payable 1,500; cr cash 151,500dr notes payable 151,500; cr cash 151,500dr notes payable 150,000; dr interest payable 6,000; cr cash 156,000dr notes payable 150,000; dr interest expense 1,500; cr cash 151,500

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: