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please help I will give a thumbs up Use the following information for the Exercises below. [The following information applies to the questions displayed below.)
please help I will give a thumbs up
Use the following information for the Exercises below. [The following information applies to the questions displayed below.) Hart Company made 3,700 bookshelves using 21.000 board feet of wood costing $268,800. The company's direct materials standards for one bookshelf are 6 board feet of wood at $12.70 per board foot. Exercise 23-14A Materials variances recorded and closed LO P5 Hart Company records standard costs in its accounts and its materiais variances in separate accounts when it assigns materials costs to the Work in Process Inventory account (1) Prepare the journal entry that both charges the direct materials costs to the Work in Process inventory account and records the materials variances in their proper accounts: (2) Assume that Hart's materiais 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 that both charges the direct materials costs to the Work in Process Inventory account and records the materials variances in their proper accounts. Required information Required i Required 2 Prepare the journal entry that both charges the direct materials costs to the Work in Process Inventory account and re variances in their proper accounts. View transaction list Journal entry worksheet 1 Record price and quantity variances. Noter Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal of 2 Required 1 Required 2 Assume that Hart's materials variances are the only variances accumulated in the accounting period and that they Prepare the adjusting journal entry to close the variance accounts at period-end. View transaction list ped Journal entry worksheet bok Record closing of price and quantity variances to cost of goods sold. nt nt Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general Journal Step by Step Solution
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