Concord Corp. supplies its customers with high$-$quality canvas tents. These canvas tents sell for $$170$ each, with the following DM and

DL usage and price expectations.

Throughout the year, Concord used $31,490$ square yards of fabric in the process of making $3,350$ tents. The company had originally

planned to produce and sell $3,150$ tents. In keeping with its desire to hold some DM Inventory at year$-$end, it purchased $33,390$ square

yards of canvas at $$5\mathrm{.}20$ per square yard. Concord's DL cost totaled $$62,377$ for the $3,283$ hours that were actually used.

$($a$)$

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Determine Concord's DM and DL price and efficiency variances; specify the amount and sign for all.

Attempts: $1$ of $1$ used

$($b$)$

Record the journal entries to accompany these three transactions: $(1)$ the purchase of DM on account, $(2)$ the usage of DM$,$ and $(3)$

DL cost incurred $($accrued$).($Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry

is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

No$.$ Account Titles and Explanation

Debit

Credit

$(1)$