Robin Company purchased and used 500 pounds of direct materials to produce a product with...
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Accounting
Robin Company purchased and used 500 pounds of direct materials to produce a product with a 520 pound standard direct materials requirement. The standard materials price is $1.90 per pound. The actual materials orice was $2.00 per pound Robin records standards and variances in the general ledger 1. Prepare the journal entries to record the purchase of the materials on account. If an amount box does not require an entry, leave it blank. 2. Prepare the journal entries to
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