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A Manufacturer,using a Standard Cost System,purchased 250 Units of Direct

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Essay

A manufacturer,using a standard cost system,purchased 250 units of direct materials at a cost of $2 per unit.The standard cost per unit of direct materials is $1.85.Prepare the journal entry to record the direct materials cost variance at the time of purchase.Omit explanation.


Definitions:

Flatness

A geometric tolerance that specifies the maximum allowable deviation of a surface from being perfectly flat.

Geometric Tolerance

The maximum permissible deviation in shape and location for a geometric element.

Characteristic Symbol

A symbol used in engineering drawings to represent the type of geometric characteristic that is being controlled by a geometric tolerance.

Symmetry

A characteristic where an object or design is evenly proportioned and balanced, such that it can be divided into matching halves by one or more axes.

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