Journal Entries under Standard Costing Appendix), Posting Journal Entries for Variances (Appendix) (LO 10-6, 10-9) [The following information applies to the questions displayed below.) Saskatewan Can Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the controller Direct Labor: Quantity, 0.24 hour Rate, $12.00 per hour Direct Material: Quantity, 3 kilograms Price $0.58 per kilogram Actual material purchases amounted to 159,600 kilograms at $0.630 per kilogram. Actual costs incurred in the production of 38,000 units were as follows: Direct labor: Direct material: $116,850 for 9,500 hours $79,882 for 125,400 kilograms Exercise 10-32 Denuirert Exercise 10-32 Required: Post the journal entries prepared above to the appropriate T-accounts below. Be sure to select from the dropdown menu the transaction number associated with each amount posted. Raw Material Inventory Direct Material Purchase Price Variance Work-in-Process Inventory Direct Material Quantity Variance Accounts Payable Direct-Labor Rate Variance Required information Direct-Labor Rate Variance Accounts Payable Direct-Labor Efficiency Variance Wages Payable Cost of Goods Sold Required information 1 1 Raw-material inventory Direct-material purchase price variance Accounts payable 92,658 7,980 100,548 2 2 Work-in-process inventory Direct-material quantity variance Accounts payable 66,120 6,612 72,732 3 3 Work in process inventory Direct labor rate variance Direct-labor officiency variance Wages payable 109,440 2,850 4,560 116,850 4 4 22,002 Cost of goods sold Direct-material purchase price varianco Direct-material quantity variance Direct labor rato variance Direct-labor efficiency variance 7,980 6,612 2,850 4,500