Standard Costing in a Demand-Pull Environment: Refer to the data for the Ashwood Company (problems 20-32 and 20-33, above). For this problem, assume that Ashwood charges all standard costs directly to Cost of Goods Sold and maintains a separate account for variances. At the end of the period, adjustments are made to reflect inventories and to prorate variances.

Required: Use T-accounts to show the cost flows under this scenario.