What is the journal entry to record the issuance and usage

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Problem

During April, a small roofing company purchased 700 bundles of a certain type of shingle at a price of P35 per bundle, P8 more than the standard price. Its standard quantity of this type of shingle is 725 bundles. Get the instant assignment help. What is the journal entry to record the issuance and usage of materials assuming that the roofing company purchased and used 700 bundles?

Reference no: EM133921849

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