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Former Member
Nov 08, 2012 at 12:23 AM

variance calculation

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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