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Can someone Please help me figure out those numbers that are shown incorrect? Please include all work on how to get the numbers. appreciate the
Can someone Please help me figure out those numbers that are shown incorrect? Please include all work on how to get the numbers. appreciate the help!!
Dash Company adopted a standard costing system several years ago. The standard costs for the prime costs (i.e., direct materials and direct labor) of its single product are: Material Labor (5 kilograms x $6.00 per kilogram) (6 hours x $18.50 per hour) $ 30.00 111.00 All materials are added at the beginning of processing. The following data were taken from the company's records for November In-process beginning inventory In-process ending inventory Units completed Budgeted output Purchases of materials Total actual direct labor costs Actual direct labor hours Materials usage variance Total materials variance None 760 units, 75% complete as to direct labor 5,800 units 6,200 units 52,000 kilograms $ 620,000 36,700 hours $ 1,800 Unfavorable $ 760 Unfavorable Required 1 Required 2 2. Prepare journal entries to record all transactions, including the variances in requirement 1. (If no entry is required transaction/event, select "No journal entry required" in the first account field.) Debit Credit No A Transaction 1 1,898,100 X General Journal Direct materials inventory Direct materials purchase-price variance Accounts payable 2,560 X 308,400 x 2 196,800 Work-in-process inventory Direct materials usage variance Direct materials inventory 1,800 x 197,938 X 1 cT 3 707,070 Work-in-process inventory Direct labor rate variance Direct labor efficiency variance Accrued payroll 58,950 28,120 620,000Step by Step Solution
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