principlesofaccounting.com

Variances Relating to Direct Material, Direct Labor, and Factory Overhead

Chapter 22: Variance Analysis

 

Variance General Journal Entry - To record purchase with unfavorable variance

 

Variance General Journal Entry - To transfer materials and favorable quantity variance

 

Variance General Journal Entry - To record efficiency and rate variances

 

Variance General Journal Entry - To record efficiency and spending variances

 

Variance General Journal Entry - To record volume and spending variances