Required information Use the following information for the Exercises below. (Algo) Skip to question [The following information applies to the questions displayed below.] Hart Company made 3,040 shelves using 22,040 pounds of wood costing $271,092. The company's direct materials standards for one shelf are 8 pounds of wood at $12.20 per pound. Exercise 21-14A (Algo) Recording and closing materials variances LO P6 Hart Company uses a standard costing system. Prepare the journal entry to charge direct material variances.