Robinwood Fixtures manufactures two products, K4 and X7. The company prepares its master budget on the basis of standard costs. The following data are for September:

	K4		X7
Standards
Direct materials	0.75	pounds at $9.40 per pound	1	pound at $10.00 per pound
Direct labor	1.25	hours at $27.40 per hour	1.5	hours at $30 per hour
Variable overhead (per direct labor-hour)	$ 22.60		$ 24.40
Fixed overhead (per month)	$ 418,080		$ 494,970
Expected activity (direct labor-hou rs)	17,420		23,570
Actual results
Direct material (purchased and used)	11,000	pounds at $8.80 per pound	14,270	pounds at $10.30 per pound
Direct labor	14,870	hours at $27.70 per hour	22,370	hours at $34.00 per hour
Variable overhead	$ 359,060		$ 471,212
Fixed overhead	$ 393,740		$ 491,960
Units produced (actual)	12,340	units	14,570	units

Assume that the company carries no beginning or ending inventories. Sales in March totaled $4,140,000 for both products combined.

Required:

a. Prepare the journal entries to record the activity of K4 for the last month using standard costing.

A) record the actual costs of direct materials incurred

B) record the actual costs of direct labor incurred

C) record the transfer of variable overhead applied to work in process inventory

D) record the actual costs of variable overhead incurred

E) record the variable overhead applied to production and variances, if any

F) record the transfer of fixed overhead applied to work in process inventory.

G) record the actual costs to fixed overhead incurred

H) record the fixed overhead applied to production and variances, if any

b. Prepare the journal entries to record the activity of X7 for the last month using standard costing.

A) record the actual costs of direct materials incurred

B) record the actual costs of direct labor incurred

C) Record the transfer of variable overhead applied to work-in-process inventory.

D) Record the actual costs of variable overhead incurred.

E) Record the variable overhead applied to production and variances, if any.

F) Record the transfer of fixed overhead applied to work-in-process inventory.

G) Record the actual costs of fixed overhead incurred.

H) Record the fixed overhead applied to production and variances, if any.

c. Prepare the journal entries to close all variances to Cost of Goods Sold at the end of the month.

A) Record the transfer of WIP inventory to finished goods. (For K4 and X7)

B) Record the sale of all goods. (For K4 and X7)

C) Record the cost of goods sold using separate accounts for K4 and K7.

D) Record the disposition of variances to the Cost of goods sold account.

Please answer each of the lettered journal entries with the correct accounts and numbers

please answer asap by 7:00 tonight

Prepare the journal entries to record the activity of X7 for the last month using standard costing. Note: Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" ir first account field. Journal entry worksheet EFGH Record the actual costs of direct materials incurred. Note: Enter debits before credits. Prepare the journal entries to close all variances to Cost of Goods Sold at the end of the month. Note: Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry first account field. Journal entry worksheet Record the transfer of WIP inventory to finished goods. (For K4 and 7 ) Note: Enter debits before credits. Journal entry worksheet Record the actual costs of direct materials incurred. Note: Enter debits before credits. Prepare the journal entries to record the activity of X7 for the last month using standard costing. Note: Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry required" ir first account field. Journal entry worksheet EFGH Record the actual costs of direct materials incurred. Note: Enter debits before credits. Prepare the journal entries to close all variances to Cost of Goods Sold at the end of the month. Note: Do not round intermediate calculations. If no entry is required for a transaction/event, select "No journal entry first account field. Journal entry worksheet Record the transfer of WIP inventory to finished goods. (For K4 and 7 ) Note: Enter debits before credits. Journal entry worksheet Record the actual costs of direct materials incurred. Note: Enter debits before credits