20 1.1 points 03:11:33 eBook References Problem 10-45 Variances; Journal Entries; Missing Data (Appendix) (LO 10-3, 10-6, 10-9) Aquafloat Corporation manufactures rafts for use in swimming pools. The standard cost for material and labor is $93.00 per raft. This Includes 8 kilograms of direct material at a standard cost of $6.00 per kilogram, and 5 hours of direct labor at $9.00 per hour. The following data pertain to November: Work-in-process Inventory on November 1: none. Work-in-process Inventory on November 30: 960 units (75 percent complete as to labor; material is issued at the beginning of processing). Units completed: 7,000 units. Purchases of materials: 51,400 kilograms for $305,830. Total actual labor costs: $347,760. Actual hours of labor: 37,800 hours. Direct-material quantity variance: $3,000 unfavorable. Required: 1. Compute the following amounts. a. Direct-labor rate variance for November. b. Direct-labor efficiency variance for November. c. Actual kilograms of material used in the production process during November. d. Actual price paid per kilogram of direct material In November. e. Total amounts of direct-material and direct-labor cost transferred to Finished-Goods Inventory during November. f. The total amount of direct-material and direct-labor cost in the ending balance of Work-In-Process Inventory at the end of November. 2. Prepare journal entries to record the following: a. Purchase of raw material and rate variance. b. Adding direct material to Work-in-Process Inventory and efficiency varlance. c. Adding direct labor to Work-In-Process Inventory and labor variances.