Making journal entries Assume that during the month of April the production report of Algonquin Adhesives Inc. in E8-10 revealed the following information: Units produced during the month .... 21,000 Direct labor hours for the month 41,000 Materials purchased (in pounds ). 130,000 Materials used (in pounds ) .. 125,000 Labor rate per hour . $ 10.04 Materials cost per pound .... $ 1.98 Make journal entries to charge materials (use the materials pur- chase price variance) and labor to Work in Process. (Remember to retrieve the standard costs from E8-10 before solving this exercise.)

standard costs from question 10

Making journal entries Assume that during the month of April the production report of Algonquin Adhesives Inc. in E8-10 revealed the following information: Make journal entries to charge materials (use the materials purchase price variance) and labor to Work in Process. (Remember to retrieve the standard costs from E8-10 before solving this exercise.) \begin{tabular}{l|l|r|} \hline \multicolumn{2}{|l|}{ Standard Cost Summary } & \\ \hline Materials & 61b$2 & $12 \\ \hline Labor & 2$10 & $20 \\ \hline Factory Overhead & 40,000hrs/20,000 & $2 \\ \hline Standard cost per unit & & $34 \\ \hline \end{tabular}