Post Parts manufactures components used in audio and video systems. The year just ended was Post's first year of operations and they are preparing financial statements. The immediate issue facing Post is the treatment of the direct labor costs. Post set a standard at the beginning of the year that allowed 0.25 hours of direct labor for each unit of output. The standard rate for direct labor is $80 per hour. During the year, the company produced 288,000 units. A count of the ending finished goods inventory showed 17,280 units remaining in the warehouse. There are never any work-in-process inventories at Post. Post used 70,805 hours of labor. Total direct labor costs for the year amounted to $5,808,400 Required: a. and b. What was the direct labor price variance and the direct labor efficiency variance for the year? c. Assume Post writes off all variances to Cost of Goods Sold. Prepare the entries Cook would make to record and close out the variances. d. Assume Post prorates all variances to the appropriate accounts. Prepare the entries Post would make to record and close out the variances. Answer is not complete. Complete this question by entering your answers in the tabs below. What was the direct labor price varianct and the direct labor efficiency variance for the year? select either option. a. and b. What was the direct labor price variance and the direct labor efficiency variance for the year? c. Assume Post writes off all variances to Cost of Goods Sold. Prepare the entries Cook would make to record an variances. d. Assume Post prorates all variances to the appropriate accounts. Prepare the entries Post would make to recorc the variances. Complete this question by entering your answers in the tabs below. Assume Post writes off all variances to Cost of Goods Sold. Prepare the entries Cook would make to record and close out the Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the purchase and use of 70,805 hours of direct labor at an actual cost of $5,808,400 and the transfer to work in process at a standard cost of $80 per hour. Note: Enter debits before credits. a. and b. What was the direct labor price variance and the direct labor efficiency variance for the year? c. Assume Post writes off all variances to Cost of Goods Sold. Prepare the entries Cook would make to record and variances. d. Assume Post prorates all variances to the appropriate accounts. Prepare the entries Post would make to record the variances. Complete this question by entering your answers in the tabs below. Assume Post writes off all variances to Cost of Goods Sold. Prepare the entries cook would make to record and close out the Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Journal entry worksheet Record the closure of direct labor cost variances to Cast of Goods Sold. Note: Enter debits before credits. Journal entry worksheet Record the purchase and use of 70,805 hours of direct labor at an actual cost of $5,808,400 and the transfer to work in process at a standard cost of $80 per hour. Note: Enter debits before credits. Journal entry worksheet Record the closure of direct labor cost variances. Note: Enter debits before credits. Post Parts manufactures components used in audio and video systems. The year just ended was Post's first year of operations and they are preparing financial statements. The immediate issue facing Post is the treatment of the direct labor costs. Post set a standard at the beginning of the year that allowed 0.25 hours of direct labor for each unit of output. The standard rate for direct labor is $80 per hour. During the year, the company produced 288,000 units. A count of the ending finished goods inventory showed 17,280 units remaining in the warehouse. There are never any work-in-process inventories at Post. Post used 70,805 hours of labor. Total direct labor costs for the year amounted to $5,808,400 Required: a. and b. What was the direct labor price variance and the direct labor efficiency variance for the year? c. Assume Post writes off all variances to Cost of Goods Sold. Prepare the entries Cook would make to record and close out the variances. d. Assume Post prorates all variances to the appropriate accounts. Prepare the entries Post would make to record and close out the variances. Answer is not complete. Complete this question by entering your answers in the tabs below. What was the direct labor price varianct and the direct labor efficiency variance for the year? select either option. a. and b. What was the direct labor price variance and the direct labor efficiency variance for the year? c. Assume Post writes off all variances to Cost of Goods Sold. Prepare the entries Cook would make to record an variances. d. Assume Post prorates all variances to the appropriate accounts. Prepare the entries Post would make to recorc the variances. Complete this question by entering your answers in the tabs below. Assume Post writes off all variances to Cost of Goods Sold. Prepare the entries Cook would make to record and close out the Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet Record the purchase and use of 70,805 hours of direct labor at an actual cost of $5,808,400 and the transfer to work in process at a standard cost of $80 per hour. Note: Enter debits before credits. a. and b. What was the direct labor price variance and the direct labor efficiency variance for the year? c. Assume Post writes off all variances to Cost of Goods Sold. Prepare the entries Cook would make to record and variances. d. Assume Post prorates all variances to the appropriate accounts. Prepare the entries Post would make to record the variances. Complete this question by entering your answers in the tabs below. Assume Post writes off all variances to Cost of Goods Sold. Prepare the entries cook would make to record and close out the Note: If no entry is required for a transaction/event, select "No joumal entry required" in the first account field. Journal entry worksheet Record the closure of direct labor cost variances to Cast of Goods Sold. Note: Enter debits before credits. Journal entry worksheet Record the purchase and use of 70,805 hours of direct labor at an actual cost of $5,808,400 and the transfer to work in process at a standard cost of $80 per hour. Note: Enter debits before credits. Journal entry worksheet Record the closure of direct labor cost variances. Note: Enter debits before credits