Hi,
i know that variance is actual(GI time) vs target(GR time).
28 Oct
during GI against production order, the raw mat is $1 and quantity 10.
29 Oct
additional purchase of raw mat and the map moved. now the map is $1.20
1 Nov
costing run
3 Nov
during GR against production order, the raw mat is $1.20 and quantity 10.
1 May i know the variance is $2?
2 How is the double entry? dr inventory $2 cr revenue account?
3 Say if on 29 Oct, the map is $.80 and costing run base on $.80, then the double entry is cr inventory $2 dr exp acc?
thanks