Managerial Accounting

When the actual amount of a raw material used in production is less than the standard amount allowed for the actual output, the journal entry would include:

Credit to Work-In-Process; Credit to Materials Quantity Variance
Credit to Raw Materials; Credit to Materials Quantity Variance
Credit to Raw Materials; Debit to Materials Quantity Variance
Credit to Work-In-Process; Debit to Materials Quantity Variance

Solution Summary

Managerial Accounting