Required information (The following information applies to the questions displayed below) Hart Company made 3,020 bookshelves using 22.020 board feet of wood costing $268,644. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.10 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 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 to charge direct materials costs to Work in Process Inventory and record the materials variances. View transaction list Journal entry worksheet A Record price and quantity variances Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal Required information The following information applies to the questions displayed below) Hart Company made 3,020 bookshelves using 22.020 board feet of wood costing $268.644. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.10 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 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 Assume that Hart's materials variances are the only variances accumulated in the accounting period and that they are immaterial. Prepare the adjusting journal entry to dose the variance accounts at period-end. View transaction list Journal entry worksheet A Record closing of price and quantity variances to cost of goods sold. Note: Enter den before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal Comp Wiz sells computers. During May. It sold 600 computers at a $700 average price each. The May fixed budget included sales of 650 computers at an average price of $660 each AQ = Actual Quantity SQ = Standard Quantity AP - Actual Price SP - Standard Price 1&2. Compute the sales price variance and the sales volumde variance for May Classify it as favorable or unfavorable (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Actual Sales Flexible Budget Budgeted Sales $ 0 0