Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Hart Company made 3,000 shelves using 22,000 pounds of wood costing $266,200. The company's direct materials standards for one shelf are 8 pounds of wood

Hart Company made 3,000 shelves using 22,000 pounds of wood costing $266,200. The company's direct materials standards for one shelf are 8 pounds of wood at $12 per pound.

Hart Company uses a standard costing system. Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the direct materials variances.

image text in transcribed

Required information Use the following information for the Exercises below. (Static) [The following information applies to the questions displayed below.] Hart Company made 3,000 shelves using 22,000 pounds of wood costing $266,200. The company's direct materials standards for one shelf are 8 pounds of wood at $12 per pound. Exercise 21-14A (Static) Recording and closing materials variances LO P6 Hart Company uses a standard costing system. Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the direct materials variances. Answer is not complete. No Transaction General Journal Debit Credit A 1 288,000 x 288,000 X Work in process inventory Raw materials inventory Raw materials inventory Cost of goods sold 21,800 X 21,800

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Accounting For Payroll

Authors: Steven M. Bragg

1st Edition

0471251089, 9780471251088

More Books

Students also viewed these Accounting questions

Question

Explain the need for a critical analytical approach to studying HRM

Answered: 1 week ago