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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

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DM & DL variances; journal entries
Madzinga's Draperies manufactures curtains. Curtain #4571 requires the following:
During the second quarter, the company purchased 34,000 square yards at a cost of $166,600 and used 33,000 square yards to produce 3,000 Curtain $4571 s. Direct labor totaled 15,200 hours for $159,600.
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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