Biology Forums - Study Force

Haven Industries purchased 1,000 units of product at a cost of $1.20 per unit. Haven's standard price per unit was set at $1.10. Which of the following is the correct journal entry to record the purchase?

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Accounts Payable	1,100	​
Direct Materials Price Variance	100	​
Raw Materials Inventory	​	1,200

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Raw Materials Inventory	1,200	​
Direct Materials Price Variance	​	100
Accounts Payable	​	1,100

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Raw Materials Inventory	1,100	​
Direct Materials Price Variance	100	​
Accounts Payable	​	1,200

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Accounts Payable	1,200	​
Direct Materials Price Variance	​	100
Raw Materials Inventory	​	1,100

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