Variances and backflush method 1 Baer Company has budgeted the following labor and material standards for the production of its magnetic switches:

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Standard Cost Units Cost per Unit Assembly and sealing Materials 3 per hr. 2 units $24 per hr. $ 8 $8 per unit 16 Total $24 April production of 1,500 switches required the following amounts of labor and materials (purchased on a JIT basis): Assembly and sealing Materials. Hours Cost 560 hrs. 3,100 units $ 9,520 $27,900 All of the production was sold at the regular price of $30 per unit. REQUIRED Prepare necessary journal entries using backflush method 1.