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 (6 kilograms x $5.00 per kilogram) (7 hours x $16.00 per hour) $ 30.00 112.00 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 None In-process ending inventory 1,000 units, 70% complete as to direct labor Units completed Budgeted output Purchases of materials Total actual direct labor costs Actual direct labor hours Materials usage variance Total materials variance Required: 1. Compute for November: 7,600 units 8,000 units 70,000 kilograms 57,400 hours $ 3,500 Unfavorable $ 700 Unfavorable $ 850,000 a. The direct labor efficiency variance. Is this variance favorable (F) or unfavorable (U)? b. The direct labor rate variance. Is this variance favorable (F) or unfavorable (U)? c. The actual number of kilograms of material used in the production process during the month. d. The actual price paid per kilogram of material during the month, the company calculates the direct materials price variance at point of purchase. e. The amount of direct materials cost and direct labor cost transferred to the Finished Goods Inventory account. f. The total amount of direct materials cost and direct labor cost in the Work-in-Process Inventory account at the end of the month. 2. Prepare journal entries to record all transactions, including the variances in requirement 1. Required 1 Required 2 1.Compute for November: a. The direct labor efficiency variance. Is this variance favorable (F) or unfavorable (U)? b. The direct labor rate variance. Is this variance favorable (F) or unfavorable (U)? c. The actual number of kilograms of material used in the production process during the month. d. The actual price paid per kilogram of material during the month, the company calculates the direct materials price variance at point of purchase. (Round your answer to 3 decimal places.) e. The amount of direct materials cost and direct labor cost transferred to the Finished Goods Inventory account. f. The total amount of direct materials cost and direct labor cost in the Work-in-Process Inventory account at the end of the month. a. Direct labor efficiency variance $ 121,600 Favorable b. Direct labor rate variance $ (68,400) Favorable C. Actual number of kilograms 50,683 kilograms d. Actual price paid per kilogram of material $ 4.960 e. f. Amount transferred to the finished goods Inventory account Ending inventory at standard cost $ 1,079,200 $ 114,000 < Required 1 Required 2 > Show less Required 1 Required 2 2. Prepare journal entries to record all transactions, including the variances in requirement 1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction A 1 B 2 C 3 General Journal Direct materials inventory Direct materials purchase-price variance Accounts payable Work-in-process inventory Direct materials usage variance Direct materials inventory Work-in-process inventory Direct labor rate variance Direct labor efficiency variance Accrued payroll < Required 1 Required 2 Debit 350,000 Credit 2,800 347,200 258,000 3,498 261,498 935,200 121,600 68,400 x 850,000