A manufacturer using standard costing system has purchased raw material of 250 units at the actual cost
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Question:
A manufacturer using standard costing system has purchased raw material of 250 units at the actual cost of $2 per unit. The standard cost per unit of raw material is $1.85.
Give journal entry to record the material cost variance at the time of purchase.
Related Book For
Horngrens Financial and Managerial Accounting
ISBN: 978-0133255584
4th Edition
Authors: Tracie L. Nobles, Brenda L. Mattison, Ella Mae Matsumura
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