The Cinrich Cabinet Company uses a standard costing system and produced 1,830 cabinets during May. The standard cost of wood is $22 per linear foot, and the standard quantity for each cabinet is 29 linear feet. During May, the company purchased 61,500 linear feet of wood for $1,230,000, and 58,500 feet were used in production. The company purchases all materials on account.

1. Determine the material price variance and the material quantity variance. (Enter all variances as a positive number.)

2. Record the related journal entries for May. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)

Material Price Variance Material Quantity Variance Unfavorable Neither Unfavorable nor Favorable Favorable SHOW LIST OF ACCOUNTS