(Standard process costing; variances) DiskCity Products manufactures CDs and uses a standard process costing system. All material is added at the start of production, and labor and overhead are incurred equally throughout the process. The standard cost of one CD is as follows:

d. Using the FIFO method, what are the total direct material, direct labor, and overhead variances for April?

e. Record the journal entries to recognize the direct material, direct labor, and overhead variances.LO1.

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Direct material $0.10 Direct labor 0.02 Overhead 0.07 Total cost $0.19 The following production and cost data are applicable to April 2006: Beginning inventory (45% complete) Started in April Ending inventory (65% complete) 18,000 units 130,000 units 14,400 units $18,400 2,698 Current cost of direct material Current cost of direct labor Current cost of overhead 15,200 a. What cost is carried as the April beginning balance of Work in Process Inventory? b. What cost is carried as the April ending balance of Work in Process Inventory? c. What cost is transferred to Finished Goods Inventory for April?