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.

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The Answer of 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.

A Manufacturer Using Standard Costing System Has Purchased Raw Material