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need help Direct Materiais and Direct Labor Varlances Berner Company produces a dark chocolate candy bak. Mecently, the company adopted the following standards for one
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Direct Materiais and Direct Labor Varlances Berner Company produces a dark chocolate candy bak. Mecently, the company adopted the following standards for one bar of the candy: During the first week of operation, the company experienced the following actual results: a. Bars produced: 78,000 . b. Ounces of direct materials purchased: 640,000 ounces at $0.084 per ounce. c. There are no beginning or ending inventeries of diruct materials. d. Direct labor: 5,510 hours at $18. Required: 1. Compute price and usage variances for direct materials. 2. Compute the rate variance and the efficency variance for direct labor. 3. Prepare the journal entries associated with direct materiais and direct labor. If an amount box does not require an entry, leave it blank. If an amount is enter " 0 ". 3. Prepare the journal entries associated with direct materials and direct lobor. If an amount box does not require an entry, leave it blank. If an amount is zero, enter " 0 Step by Step Solution
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