When does the Invoice price variance arise? What is the accounting entry?

When does the Invoice price variance arise? What is the
accounting entry?

Question Posted / sachind2000

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When does the Invoice price variance arise? What is the accounting entry?..

Answer / raghesh

Price of a PO different from in Invoice because of exchange rate is termed as invoice price variance

AP accrual A/C --------------- Dr 100
Invoice price variance a/c----- Dr 10

TO,
Liability A/C -----------------Cr 110

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