Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Hart Company made 3,400 shelves using 22,400 pounds of wood costing $315,840. The company's direct materials standards for one shelf are 8 pounds of wood at $14.00 per pound. Exercise 23-14A (Algo) Recording and closing materials variances LO P6 Hart Company uses a standard costing system. Prepare the journal entry to charge direct materials costs to Work in Process Invent and record the direct materials variances