Bahia Company installed a standard cost system on May 1. Selected transactions for the month of May are as follows.

1.

Purchased 16,600 units of raw materials on account at a cost of $3.20 per unit. Standard cost was $3.00 per unit.

2.

Issued 16,600 units of raw materials for jobs that required 16,380 standard units of raw materials.

3.

Incurred 16,000 actual hours of direct labor at an actual rate of $4.50 per hour. The standard rate is $5.00 per hour. (Credit Factory Wages Payable.)

4.

Performed 16,000 hours of direct labor on jobs when standard hours were 16,180.

Applied overhead to jobs at the rate of 100% of direct labor cost for standard hours allowed.

Journalize:

Account	Debit	Credit
Raw Materials Inventory
Materials price variance
Accounts Payable
WIP inventory
Materials Quantity variance
raw materials inventory
factory labor
labor price variance
factory wages payable
WIP Inventory
labor quanityt variance
factory labor
WIP inventory
manufacturing overhead