Country Designs is a manufacturer of large flower pots for urban settings. The company has these standards: Click the icon to view the standards.) Last month, the company reported the following actual results for the production of 1,300 flower pots: (Click the icon to view the actual results.) (Click the icon to view related variances.) Assume the company uses a standard cost accounting system. Requirements Record Country Designs direct material and direct labor journal entries. 2. Record Country Designs journal entries for manufacturing overhead, including the entry that records the overhead variances and closes the Variable and Fixed Manufacturing Overhead account. 3. Record the journal entries for the completion and sale of 1,300 flower pots, assuming Country Designs sold (on account) all of the flower pots at a sales price of $500 each. (There were no beginning or ending inventories.) Requirement 1. Record Country Designs direct material and direct labor journal entries. (Record debits first, then credits. Exclude explanations from any journal entries. Abbreviations used: DM = Direct materials, DL = Direct labor) Let's start by recording the entry for the purchase of raw materials. Journal Entry Date Accounts Debit Credit Direct materials Direct materials (resin).......... 13 pounds per pot at a cost of $4.00 per pound Direct labor ............ 4.0 hours at a cost of $17.00 per hour Standard variable manufacturing overhead rate ............... $7.00 per direct labor hour Budgeted fixed manufacturing overhead....... $50,000 Standard fixed MOH rate.... $10.00 per direct labor hour (DLH) Direct labor Purchased 18,510 pounds at a cost of $4.50 per pound; used 17,810 pounds to produce 1,300 pots Worked 4.5 hours per flower pot (5,850 total DLH) at a cost of $16.00 per hour $7.20 per direct labor hour for total actual variable manufacturing overhead of $42,120 Actual variable manufacturing overhead. Data Table - X Actual fixed manufacturing overhead ....... $49,500 Standard fixed manufacturing overhead allocated based on actual production ....... $52,000 Direct materials price variance Direct materials quantity variance $ 9.255 U $3,640 U Direct labor rate variance Direct labor efficiency variance Print Done Choose from any list or enter $5,850 F $11,050 U $1,170 U $4,550 U $500 F $2,000 F Variable overhead rate variance Variable overhead efficiency variance Fixed overhead budget variance Fixed overhead volume variance 9 parts remaining Clear All