[The following information applies to the questions displayed below.] Canandaigua Container Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the controller. Direct Labor: Direct Material: Quantity, 0.28 hour Quantity, 7 kilograms Rate, $14.00 per hour kilogram Price, $0.66 per Actual material purchases amounted to 340,400 kilograms at $0.690 per kilogram. Actual costs incurred in the production of 46,000 units were as follows: Direct labor: $197,340 for 13,800 hours Direct material: kilograms $225,354 for 326,600 Exercise 10-31 Required: Prepare the following journal entries. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Do not round intermediate calculations.) View transaction list Journal entry worksheet 4 Record the purchase of direct material on account and the direct-material purchase price variance. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet 4 Record the addition of direct-material cost to work-in-process inventory and the direct-material quantity variance. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journal Journal entry worksheet 4 Record the addition of direct-labor cost to work-in-process inventory and the direct-labor variances. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 4 Record the closing of the direct-material and direct-labor variances to cost of goods sold. Note: Enter debits before credits Transaction General Journal Debit Credit 4