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Thank you for your help! Problem 27-6A Objective: To prepare journal entries for a standard cost accounting system Wellington Corporation's transactions for the current month

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Problem 27-6A Objective: To prepare journal entries for a standard cost accounting system Wellington Corporation's transactions for the current month are presented below. Standard costs per unit are as follows: direct materials, $100; direct labor, $60; and factory overhead, $48. (a) Charged direct materials used to production for 200 units, $22,000. The direct materials price variance was favorable, $700; the direct materials quantity variance was unfavorable, $2,700. (b) Charged direct labor costs to production for 200 units, $11,700. The direct labor time and rate variances were both favorable-$100 and $200, respectively. (c) Charged factory overhead to production for 200 units. Actual overhead costs were $10, 100. (d) Transferred 100 completed units to finished goods. (e) Recorded the cost of selling 80 units. (f) Closed the variance accounts. Directions: Record each of the transactions in general journal form

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