Required information [The following information applies to the questions displayed below) Hart Company made 3,320 bookshelves using 22 320 board feet of wood costing $305,784 The company's direct materials standards for one bookshelf are 8 board feet of wood at $13.60 per board foot. Hart Company uses a standard costing system (1) Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances (2) Assume that Hart's materials vortances 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