The following direct materials variance analysis was performed for Moore. (Click the icon to view the materials variance analysis.) Read the requirements Requirement 1. Record Moore's direct materials journal entries. Assume purchases were made on account Begin by journalizing the purchase of direct materials, including the related variance. (Prepare a single compound journal entry Record debits first, then credits. Select the explanations on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Now, journalize the usage of direct materials, including the related variance (Prepare a single compound journal entry. Record debits first then credits. Select the explanations on the last line of the journal entry table.) Accounts and Explanation Credit Date - Requirement 2. Explain what management will do with this variance Information why it occurred. Each of the venough for Moore's management to know that a variance occurred. Thevi l Choose from any list or enter any number in the input Solids and then continue to the next question RADO HURS, muling the related variance. (Prepare a single compound journal entry. Record DUIS SE, then credits. Select the explanations on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Now, journalize the usage of direct materials, including the related variance. (Prepare a single compour journal entry Record debits first, then credits. Select the explanations on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Requirement 2. Explain what management will do with this variance information It enough for Moore's management to know that a variance occurred. They direct materials variances will be why it occurred. Each of the Choose from any list or enter any number in the input fields and then continue to the next question Begin by journalizing the purchase of direct materials, including the related variance. (Prepare a single compou debits first, then credits. Select the explanations on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Accounts Payable Cost of Goods Sold Direct Materials Cost Variance Now, journa Direct Materials Efficiency Variance then credits Finished Goods Inventory Date Manufacturing Overhead Raw Materials Inventory Work-in-Process Inventory ated variance. (Prepare a single compound journal & nal entry table.) Debit Credit Requirement 2. Explain what management will do with this variance information why it occ enough for Moore's management to know that a variance occurred. They direct materials variances will be Choose from any list or enter any number in the input fields and then continue to the next question rizmce information Accounts Payable Cost of Goods Sold Requiremel Direct Materials Cost Variance Direct Materials Efficiency Variance Finished Goods Inventory direct mater Manufacturing Overhead Raw Materials Inventory Choose fron Work-in-Process Inventory iance occurred. The s and then continue Credit 1 Data Table - X Prepare asid SCX SO al entry table.) AC XAD $0.70 per pounds Credit $0.40 per pounds $0.40 per pound 7.900 pounds 7.000 pounds 7.200 pounds S2 880 $5.500 180 mation Cost Varlanoo Edicioncy Vance Curred. They 2370 520 Print Done men continue to the Requirement 1. Record Moore's direct materials journal entries. Assume purchases were made on account Begin by journalizing the purchase of direct materials, including the related variance. (Prepare a single compound journal entry. Record debits first, then credits Date Accounts and Explanation Debit Credit Accounts Payable Cost of Goods Sold Direct Materials Cost Variance Now, journa Direct Materials Efficiency Variance Finished Goods Inventory Date Manufacturing Overhead Raw Materials Inventory Work-in-Process Inventory Med variance. (Prepare a single compound journal entry. Record debits first, then credits. Select the el Debit Credit Requirement 2. Explain what management will do with this variance Information It enough for Moore's management to know that a variance occurred. They why it occurred. Each of the direct materiais variances will be Choose from any list or enter any number in the input fields and then continue to the next question O Type here to search first, then credits. Select the explanations on the last line of the journal entry table) investigated and information will be obtained from the managers responsible for each investigated and the managers responsible for each wariance will be blamed noted and no further investigations are necessary ch of the direct materials variances will be
