Robin Company Purchased on Account and Used 500 Pounds of Direct

Essay

Robin Company purchased on account and used 500 pounds of direct materials to produce a product with a 520-pound standard direct materials requirement. The standard materials price is $1.90 per pound. The actual materials price was $2.00 per pound.​Prepare the journal entries to record
(1) the purchase of the materials and
(2) the material entering production.