Required information Journal Entries under Standard Costing (Appendix). Posting Journal Entries for Variances (Appendix) (LO 10-6, 10.9) The following information applies to the questions displayed below.) Canandaigua Container Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the controller. Direct Labor Direct Material: Quantity, 0.13 hour Quantity, 6 kilograms Price $0,36 per Rate, 6.50 per hour kilogram Actual material purchases amounted to 112.000 kilograms at 50.400 per kilogram. Actual costs incurred in the production of 16,000 units were as follows: Direct labor: Direct material: $16.200 for 2.400 hours $40,000 for 100,000 kilograms Required: Prepare the following journal entries. (If no entry is required for a transaction/event. select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Record the purchase of direct material on account and the direct-material purchase price variance. Note: Enter debits before credits Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal Required: Prepare the following journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Record the addition of direct-material cost to work-in-process inventory and the direct-material quantity variance. Note: Enter debits before credits. General Journal Debit Credit Transaction 2 Record entry Clear entry View general journal Required: Prepare the following journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Record the addition of direct-labor cost to work-in-process inventory and the direct-labor variances. Note: Enter debits before credits. General Journal Debit Credit Transaction 3 Record entry Clear entry View general journal Required: Prepare the following journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet Record the closing of the direct-material and direct-labor variances to cost of goods sold. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal