Boss Companys standard cost accounting system recorded this information from its December operations.

Problem 23-6AA Recording and analyzing materials, labor, and overhead variances LO C1, P6 Boss Company's standard cost accounting system recorded this information from its December operations. Standard direct materials cost Direct materials quantity variance (unfavorable) Direct materials price variance (favorable) Actual direct labor cost Direct labor efficiency variance (favorable) Direct labor rate variance (unfavorable) Actual overhead cost Volume variance (unfavorable) Controllable variance (unfavorable) $105,000 3,500 650 86,700 6,900 1,200 374,000 11,000 8,900 Required: 1. Prepare December 31 journal entries to record the company's costs and variances for the month. (Do not prepare the journal entry to close the variances.) View transaction list Journal entry worksheet