Prepare tne stores ledger account showing how issues and closing stock balance will be recorded under standard price method. The debit balance of Material variance is 1,000 on 1st November 2010. The following are the purchases and issues made during November 2010. Rate Quantity 1,000 units 500 units 400 units 800 units November 2010 Opening balance Purchased 1 11 4 12 Purchased 13 6 Issued Issued : Purchased 400 units 1,000 units 700 units 7. 10 14 18 Issued 20 Issued 200 units 25 Purchased 400 units 11 29 Issued 300 units Calculate the Material price variance at the end of November 1998.
Prepare tne stores ledger account showing how issues and closing stock balance will be recorded under standard price method. The debit balance of Material variance is 1,000 on 1st November 2010. The following are the purchases and issues made during November 2010. Rate Quantity 1,000 units 500 units 400 units 800 units November 2010 Opening balance Purchased 1 11 4 12 Purchased 13 6 Issued Issued : Purchased 400 units 1,000 units 700 units 7. 10 14 18 Issued 20 Issued 200 units 25 Purchased 400 units 11 29 Issued 300 units Calculate the Material price variance at the end of November 1998.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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