9 Premium Company uses a standard cost system and reports Premium Company reported the following variances: the following information for 2024: 2(Click the icon to view the variances.) (Click the icon to view the information.) Premium produced 1,000 units of finished product in 2024 Read the requirements Begin by journalizing the purchase of direct materials on account, including the related variance. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit (1) (2) (3) (5) Now, journalize the usage of direct materials, including the related variance. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit (6) (7) (8) (9) (10) Journalize the incurrance and assignment of direct labor costs, including the related variances. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit (11) (12) (13) (14) (15) Journalize the entry to show the actual manufacturing overhead costs incurred. Date Accounts and Explanation Debit Credit (16) (17) (18) (19) (20) 3/21/2021, 10:38 of 11 systems-Maglelette Hudson Record the overhead allocated to Work-in-Process Inventory https://xlitemprod, pearsoncmg.com/api/v1/print/accounting Date Accounts and Explanation Debit Credit (21) (22) (23) (24) (25) Journalize the movement of all production from Work-in-Process Inventory Date Accounts and Explanation Debit Credit (26) (27) (28) (29) (30) Record the entry to transfer the cost of sales at standard cost. Date Accounts and Explanation Debit Credit (31) (32) (33) (34) (35) Journalize the adjusting of the Manufacturing Overhead account (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit (36) (37) (38) (39) (40) (41) 1: Data Table 3/212021 10:38 AM Standards: 3 yards of cloth per unit at $1.00 per yard 2 direct labor hours per unit at $20.50 per hour Overhead allocated at $5.00 per direct labor hour Actual 2,700 yards of cloth were purchased at $1.05 per yard Employees worked 1,200 hours and were paid $20.00 per hour Actual variable overhead was $1,800 Actual fixed overhead was $5,700 2: Data Table Direct materials cost variance $135 U 300 F Direct materials efficiency variance Direct labor cost variance Direct labor efficiency variance 600 F 16,400 F Variable overhead cost variance 1,000 U 1,000 F Variable overhead efficiency variance Fixed overhead cost variance 300 U Fixed overhead volume variance 2,800 F 3: Requirements Record the journal entries for direct materials, direct labor, variable overhead, and fixed overhead, assuming all expenditures were on account and there were no beginning or ending balances in the inventory accounts (all materials purchased were used in production, and all goods produced were sold). Record the journal entries for the transfer to Finished Goods Inventory and Cost of Goods Sold (omit the journal entry for Sales Revenue). Record the journal entry to adjust the Manufacturing Overhead account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) O Fixed Overhead Cost Variance Fixed Overhead Volume Variance Manufacturing Overhead Raw Materials Inventory (1) O O Direct Labor Efficiency Variance O Accounts Payable Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (2) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory 3/21/2021, 10:38 AM com/ap (3) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (4) O Direct Labor Efficiency Variance O Accounts Payable Direct Materials Cost Variance Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (5) O O Purchased direct materials. To record obsolete inventory. O Used direct materials. O Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead Raw Materials Inventory (6) O Direct Labor Efficiency Variance O Accounts Payable Direct Materials Cost Variance Cost of Goods Sold Direct Materials Efficiency Variance O Direct Labor Cost Variance Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (7) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory Variable Overhead Cost Variance Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (8) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory Fixed Overhead Cost Variance Fixed Overhead Volume Variance Manufacturing Overhead Raw Materials Inventory (9) O O Direct Labor Efficiency Variance O Accounts Payable Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory (10) O O Purchased direct materials. O To record obsolete inventory. O Used direct materials, O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (11) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (12) O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory 3/21/2021. 10: (13) O O Direct Labor Efficiency Variance O Fixed Overhead Cost Variance O Accounts Payable O Direct Materials Cost Variance O Fixed Overhead Volume Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Manufacturing Overhead O Direct Labor Cost Variance O Finished Goods Inventory O Raw Materials Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance Wages Payable O Work-in-Process Inventory (14) O O Direct Labor Efficiency Variance Fixed Overhead Cost Variance O Accounts Payable O Direct Materials Cost Variance Fixed Overhead Volume Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Manufacturing Overhead O Direct Labor Cost Variance O Finished Goods Inventory O Raw Materials Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance o Wages Payable O Work-in-Process Inventory (15) O Direct labor costs incurred. To adjust Manufacturing Overhead. To record payment of direct labor costs. (16) O O Direct Labor Efficiency Variance O Fixed Overhead Cost Variance O Accounts Payable O Direct Materials Cost Variance Fixed Overhead Volume Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Manufacturing Overhead O Direct Labor Cost Variance O Finished Goods Inventory O Raw Materials Inventory Variable Overhead Cost Variance O Work-in-Process Inventory O Variable Overhead Efficiency Variance Various Accounts O Wages Payable O Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (17) O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance Direct Labor Cost Variance Finished Goods Inventory O Variable Overhead Cost Variance O Work-in-Process Inventory O Variable Overhead Efficiency Variance O Various Accounts O Wages Payable 3/21/2021, 10:38 per exible budgets and Standard Cost Systems-Magiclette Hudson https://xlitemprod. pearsoncmg.com/api/dl/print/accounting (18) O O Direct Labor Efficiency Variance Fixed Overhead Cost Variance O Accounts Payable O Direct Materials Cost Variance Fixed Overhead Volume Variance O Cost of Goods Sold O Direct Materials Efficiency Variance Manufacturing Overhead Direct Labor Cost Variance O Finished Goods Inventory O Raw Materials Inventory O Variable Overhead Cost Variance Work-in-Process Inventory Variable Overhead Efficiency Variance Various Accounts O Wages Payable (19) O Direct Labor Efficiency Variance Fixed Overhead Cost Variance O Accounts Payable Direct Materials Cost Variance Fixed Overhead Volume Variance O Cost of Goods Sold Direct Materials Efficiency Variance Manufacturing Overhead Direct Labor Cost Variance O Finished Goods Inventory Raw Materials Inventory O Variable Overhead Cost Variance Work-in-Process Inventory Variable Overhead Efficiency Variance Various Accounts O Wages Payable (20) Manufacturing overhead costs allocated. O Manufacturing overhead costs incurred. O Manufacturing overhead costs paid. O Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead Raw Materials Inventory (21) O O Direct Labor Efficiency Variance O Accounts Payable Direct Materials Cost Variance Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (22) o O Direct Labor Efficiency Variance Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory 3/21 2021 10:38 A (23) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (24) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory (25) O O Manufacturing overhead costs allocated. O Manufacturing overhead costs incurred O Manufacturing overhead costs paid. Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (26) O O Direct Labor Efficiency Variance O Accounts Payable Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (27) O O Direct Labor Efficiency Variance Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory 3/21/2021, 10:38 (28) O Direct Labor Efficiency Variance O Fixed Overhead Cost Variance O Accounts Payable O Direct Materials Cost Variance O Fixed Overhead Volume Variance O Cost of Goods Sold Direct Materials Efficiency Variance Manufacturing Overhead O Direct Labor Cost Variance Finished Goods Inventory O Raw Materials Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (29) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory (30) O Completed goods transferred. O Cost of sales at standard cost. To adjust Raw Materials inve O Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead Raw Materials Inventory (31) O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (32) O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance Direct Labor Cost Variance Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory https://xlitemprod.pearsoncmg.com/api/vi/printacco (33) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (34) O O Direct Labor Efficiency Variance Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (35) O O Completed goods transferred. O Cost of sales at standard cost. O To adjust Raw Materials inventory. (36) O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead Raw Materials Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (37) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable Work-in-Process Inventory of 11 3/21/2021, 10:3 O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (38) O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (39) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance Manufacturing Overhead O Raw Materials Inventory (40) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory (41) O O Manufacturing overhead costs allocated. O Manufacturing overhead costs incurred. O To adjust Manufacturing Overhead. 9 Premium Company uses a standard cost system and reports Premium Company reported the following variances: the following information for 2024: 2(Click the icon to view the variances.) (Click the icon to view the information.) Premium produced 1,000 units of finished product in 2024 Read the requirements Begin by journalizing the purchase of direct materials on account, including the related variance. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit (1) (2) (3) (5) Now, journalize the usage of direct materials, including the related variance. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit (6) (7) (8) (9) (10) Journalize the incurrance and assignment of direct labor costs, including the related variances. (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit (11) (12) (13) (14) (15) Journalize the entry to show the actual manufacturing overhead costs incurred. Date Accounts and Explanation Debit Credit (16) (17) (18) (19) (20) 3/21/2021, 10:38 of 11 systems-Maglelette Hudson Record the overhead allocated to Work-in-Process Inventory https://xlitemprod, pearsoncmg.com/api/v1/print/accounting Date Accounts and Explanation Debit Credit (21) (22) (23) (24) (25) Journalize the movement of all production from Work-in-Process Inventory Date Accounts and Explanation Debit Credit (26) (27) (28) (29) (30) Record the entry to transfer the cost of sales at standard cost. Date Accounts and Explanation Debit Credit (31) (32) (33) (34) (35) Journalize the adjusting of the Manufacturing Overhead account (Prepare a single compound journal entry) Date Accounts and Explanation Debit Credit (36) (37) (38) (39) (40) (41) 1: Data Table 3/212021 10:38 AM Standards: 3 yards of cloth per unit at $1.00 per yard 2 direct labor hours per unit at $20.50 per hour Overhead allocated at $5.00 per direct labor hour Actual 2,700 yards of cloth were purchased at $1.05 per yard Employees worked 1,200 hours and were paid $20.00 per hour Actual variable overhead was $1,800 Actual fixed overhead was $5,700 2: Data Table Direct materials cost variance $135 U 300 F Direct materials efficiency variance Direct labor cost variance Direct labor efficiency variance 600 F 16,400 F Variable overhead cost variance 1,000 U 1,000 F Variable overhead efficiency variance Fixed overhead cost variance 300 U Fixed overhead volume variance 2,800 F 3: Requirements Record the journal entries for direct materials, direct labor, variable overhead, and fixed overhead, assuming all expenditures were on account and there were no beginning or ending balances in the inventory accounts (all materials purchased were used in production, and all goods produced were sold). Record the journal entries for the transfer to Finished Goods Inventory and Cost of Goods Sold (omit the journal entry for Sales Revenue). Record the journal entry to adjust the Manufacturing Overhead account. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) O Fixed Overhead Cost Variance Fixed Overhead Volume Variance Manufacturing Overhead Raw Materials Inventory (1) O O Direct Labor Efficiency Variance O Accounts Payable Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (2) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory 3/21/2021, 10:38 AM com/ap (3) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (4) O Direct Labor Efficiency Variance O Accounts Payable Direct Materials Cost Variance Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (5) O O Purchased direct materials. To record obsolete inventory. O Used direct materials. O Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead Raw Materials Inventory (6) O Direct Labor Efficiency Variance O Accounts Payable Direct Materials Cost Variance Cost of Goods Sold Direct Materials Efficiency Variance O Direct Labor Cost Variance Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (7) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory Variable Overhead Cost Variance Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (8) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory Fixed Overhead Cost Variance Fixed Overhead Volume Variance Manufacturing Overhead Raw Materials Inventory (9) O O Direct Labor Efficiency Variance O Accounts Payable Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory (10) O O Purchased direct materials. O To record obsolete inventory. O Used direct materials, O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (11) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (12) O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory 3/21/2021. 10: (13) O O Direct Labor Efficiency Variance O Fixed Overhead Cost Variance O Accounts Payable O Direct Materials Cost Variance O Fixed Overhead Volume Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Manufacturing Overhead O Direct Labor Cost Variance O Finished Goods Inventory O Raw Materials Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance Wages Payable O Work-in-Process Inventory (14) O O Direct Labor Efficiency Variance Fixed Overhead Cost Variance O Accounts Payable O Direct Materials Cost Variance Fixed Overhead Volume Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Manufacturing Overhead O Direct Labor Cost Variance O Finished Goods Inventory O Raw Materials Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance o Wages Payable O Work-in-Process Inventory (15) O Direct labor costs incurred. To adjust Manufacturing Overhead. To record payment of direct labor costs. (16) O O Direct Labor Efficiency Variance O Fixed Overhead Cost Variance O Accounts Payable O Direct Materials Cost Variance Fixed Overhead Volume Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Manufacturing Overhead O Direct Labor Cost Variance O Finished Goods Inventory O Raw Materials Inventory Variable Overhead Cost Variance O Work-in-Process Inventory O Variable Overhead Efficiency Variance Various Accounts O Wages Payable O Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (17) O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance Direct Labor Cost Variance Finished Goods Inventory O Variable Overhead Cost Variance O Work-in-Process Inventory O Variable Overhead Efficiency Variance O Various Accounts O Wages Payable 3/21/2021, 10:38 per exible budgets and Standard Cost Systems-Magiclette Hudson https://xlitemprod. pearsoncmg.com/api/dl/print/accounting (18) O O Direct Labor Efficiency Variance Fixed Overhead Cost Variance O Accounts Payable O Direct Materials Cost Variance Fixed Overhead Volume Variance O Cost of Goods Sold O Direct Materials Efficiency Variance Manufacturing Overhead Direct Labor Cost Variance O Finished Goods Inventory O Raw Materials Inventory O Variable Overhead Cost Variance Work-in-Process Inventory Variable Overhead Efficiency Variance Various Accounts O Wages Payable (19) O Direct Labor Efficiency Variance Fixed Overhead Cost Variance O Accounts Payable Direct Materials Cost Variance Fixed Overhead Volume Variance O Cost of Goods Sold Direct Materials Efficiency Variance Manufacturing Overhead Direct Labor Cost Variance O Finished Goods Inventory Raw Materials Inventory O Variable Overhead Cost Variance Work-in-Process Inventory Variable Overhead Efficiency Variance Various Accounts O Wages Payable (20) Manufacturing overhead costs allocated. O Manufacturing overhead costs incurred. O Manufacturing overhead costs paid. O Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead Raw Materials Inventory (21) O O Direct Labor Efficiency Variance O Accounts Payable Direct Materials Cost Variance Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (22) o O Direct Labor Efficiency Variance Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory 3/21 2021 10:38 A (23) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (24) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory (25) O O Manufacturing overhead costs allocated. O Manufacturing overhead costs incurred O Manufacturing overhead costs paid. Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (26) O O Direct Labor Efficiency Variance O Accounts Payable Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (27) O O Direct Labor Efficiency Variance Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory 3/21/2021, 10:38 (28) O Direct Labor Efficiency Variance O Fixed Overhead Cost Variance O Accounts Payable O Direct Materials Cost Variance O Fixed Overhead Volume Variance O Cost of Goods Sold Direct Materials Efficiency Variance Manufacturing Overhead O Direct Labor Cost Variance Finished Goods Inventory O Raw Materials Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (29) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory (30) O Completed goods transferred. O Cost of sales at standard cost. To adjust Raw Materials inve O Fixed Overhead Cost Variance Fixed Overhead Volume Variance O Manufacturing Overhead Raw Materials Inventory (31) O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (32) O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance Direct Labor Cost Variance Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory https://xlitemprod.pearsoncmg.com/api/vi/printacco (33) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (34) O O Direct Labor Efficiency Variance Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (35) O O Completed goods transferred. O Cost of sales at standard cost. O To adjust Raw Materials inventory. (36) O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead Raw Materials Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (37) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable Work-in-Process Inventory of 11 3/21/2021, 10:3 O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (38) O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance O Manufacturing Overhead O Raw Materials Inventory (39) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory O Fixed Overhead Cost Variance O Fixed Overhead Volume Variance Manufacturing Overhead O Raw Materials Inventory (40) O O Direct Labor Efficiency Variance O Accounts Payable O Direct Materials Cost Variance O Cost of Goods Sold O Direct Materials Efficiency Variance O Direct Labor Cost Variance O Finished Goods Inventory O Variable Overhead Cost Variance O Variable Overhead Efficiency Variance O Wages Payable O Work-in-Process Inventory (41) O O Manufacturing overhead costs allocated. O Manufacturing overhead costs incurred. O To adjust Manufacturing Overhead