1) Record the purchase of direct material on account and the direct-material purchase price variance.

2) Record the addition of direct-material cost to work-in-process inventory and the direct-material quantity variance.

3) Record the addition of direct-labor cost to work-in-process inventory and the direct-labor variances.

4) Record the closing of the direct-material and direct-labor variances to cost of goods sold.

Saskatewan Can Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the controller. Direct Labor: Direct Material: Quantity, 0.29 hour Rate, $10.00 per hour Quantity, 5 kilograms Price, s0.50 per kilogram Actual material purchases amounted to 210,000 kilograms at $0.57 per kilogram. Actual costs incurred in the production of 30,000 units were as follows: Direct labor: Direct material: $72,450 for 6,900 hours $94,875 for 165,000 kilograms Exercise 10-31 Required Prepare the following journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculetions.)