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.) Saskatewan Can 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: Quantity, 0.25 hour Rate, $10 per hour Direct Material: Quantity, 4 kilograms Price, $0.80 per kilogram Actual material purchases amounted to 240,000 kilograms at $.81 per kilogram. Actual costs incurred in the production of 50,000 units were as follows: Direct labor: Direct material: $211,900 for 13,000 hours $170, 100 for 210,000 kilograms Exercise 10-32 Required: Post the journal entries prepared above to the appropriate T-accounts below. Be sure to select from the dropdown menu the transaction number associated with each amount posted. Raw Material Inventory Direct-Material Purchase Price Variance Work-in-Process Inventory Direct-Material Quantity Variance Accounts Payable Direct-Labor Rate Variance Wages Payable Direct-Labor Efficiency Variance Cost of Goods Sold 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.) Saskatewan Can 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: Quantity, 0.25 hour Rate, $10 per hour Direct Material: Quantity, 4 kilograms Price, $0.80 per kilogram Actual material purchases amounted to 240,000 kilograms at $.81 per kilogram. Actual costs incurred in the production of 50,000 units were as follows: Direct labor: Direct material: $211,900 for 13,000 hours $170, 100 for 210,000 kilograms Exercise 10-32 Required: Post the journal entries prepared above to the appropriate T-accounts below. Be sure to select from the dropdown menu the transaction number associated with each amount posted. Raw Material Inventory Direct-Material Purchase Price Variance Work-in-Process Inventory Direct-Material Quantity Variance Accounts Payable Direct-Labor Rate Variance Wages Payable Direct-Labor Efficiency Variance Cost of Goods Sold