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Please help! I do not understand why I have the last four incorrect. DM & DL variances; journal entries information is available about standard and
Please help! I do not understand why I have the last four incorrect.
DM \& DL variances; journal entries information is available about standard and actual quantities and costs: Standard for One Unit Direct material 4.8 gallons @ \$3 per gallon Direct labor 20 minutes @ $9 per DLH Actual Usage for July Direct material 47,710 gallons Direct labor 3,354 DLHs @ \$9.02 per DLH a. Compute the material purchase price variance and the material quantity variance. Note: Do not use a negative sign with your answers. Material price variance Material quantity variance b. Compute the labor rate, labor efficiency, and total labor variance. Note: Do not use a negative sign with your answers. Note: Round your final answer to the nearest whole dollar. Note: Do not use a negative sign with your answers. b. Compute the labor rate, labor efficiency, and total labor variance. Note: Do not use a negative sign with your answers. Note: Round your final answer to the nearest whole dollar. c. Prepare the journal entries for the material and labor variances. Note: Round amounts to the nearest whole dollar. Note: Record any multiple debits or any multiple credits in alphabetical order by account nameStep by Step Solution
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