Hart Company made 3,060 bookshelves using 22,060 board feet of wood costing $273,544. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.30 per board foot. Exercise 21-14A Recording and closing materials variances LO P6 Hart Company uses a standard costing system. (1) Prepare the journal entry to charge direct materials costs to Work In Process Inventory and record the materiais variances. (2) Assume that Hart's materials variances are the only variances accumulated in the accounting period and that they are immaterial. Prepare the adjusting Journal entry to close the variance accounts at period-end. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances. View transaction list Journal entry worksheet