part 16

Hart Company made 3.360 bookshelves using 22,360 board feet of wood costing $310,804. The company's direct materials standards for one bookshelf are 8 board feet of wood at $13.80 per board foot Exercise 23-14A Recording and closing materials variances LO P6 Hort Company cues a standard conting 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. Verwaction et Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances. View transaction inst Journal entry worksheet A > Record price and quantity variances. W Hotel Enter debits before credits Transaction 1 General Journal Debit Credit View transaction list Journal entry worksheet