EXERCISE 10-7 (20 MINUTES)

2. - SOLUTIONS TO QUESTION MANAGERIAL ACCOUNTING CH10 STANDARD COST AND THE BALANCE SCORECARD
SOLUTIONS TO QUESTION MANAGERIAL ACCOUNTING CH10 STANDARD COST AND THE BALANCE SCORECARD
2. The general ledger entry to record the use of materials for the month is: Work in Process (10,000 meters at $3.25 per meter)... 32,500 Materials Quantity Variance (500 meters at $3.25 per meter U) ... 1,625 Raw Materials (10,500 meters at $3.25 per meter) ... 34,125