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DM & DL variances; journal entries Madzinga's Draperies manufactures curtains. Curtain # 4 5 7 1 requires the following: During the second quarter, the company
DM & DL variances; journal entries
Madzinga's Draperies manufactures curtains. Curtain # requires the following:
During the second quarter, the company purchased square yards at a cost of $ and used square yards to produce Curtain $ s Direct labor totaled hours for $
a Compute the material price and quantity variances.
Note: Do not use a negative sign with your answers.
b Prepare the journal entries for the purchase and use of direct material.
Note: Round amounts to the nearest whole dollar.
Note: Record any multiple debits or any multiple credits in alphabetical order by account name.
c Compute labor rate and labor efficiency variances.
Note: Do not use a negative sign with your answers.
Note: Round your final answer to the nearest whole dollar.
d Prepare the journal entry to accrue direct labor cost and record the labor variances for the quarter.
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