(Computation of standard price and variance) With the help of the following information, prepare the store ledger card based on the standard price method:
|
1 august 1998 |
|
2000 kg |
Rs 11 per unit |
|
|
2 |
purchased |
3000 kg |
Rs 12 per unit |
|
|
3 |
issued |
2500 kg |
||
|
5 |
issued |
500 kg |
||
|
8 |
purchased |
1000 kg |
Rs 13 per units |
|
|
10 |
issued |
500 kg |
||
|
15 |
issued |
200 kg |
||
|
18 |
issued |
100 kg |
||
|
20 |
purchased |
1000 kg |
Rs 11 per unit |
|
|
28 |
issued |
500 kg |
||
|
30 |
issued |
200 kg |
The credit balance of material price variance was Rs 1,000 on 1 August 1998.