The purchase of potatoes

The use of potatoes

Are the variances favourable or unfavourable? Explain.

Record the journal entry for the purchase of potatoes. $($Record debits first, then credits. Round your answers to the nearest whole dollar.$)$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[,$Raw Materials Inventory,$10,560,],[$Direct Materials Price Variance,$500,],[$Accounts Payable,,$]]$

Record the journal entry for the use of the potatoes. $($Record debits first, then credits. Round your answers to the nearest whole dollar.$)$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[,$Work in Process Inventory,$10,263,],[$Direct Materials Efficiency Variance,$63,],[$Raw Materials Inventory,,$]]$ Record the journal entry for the purchase of potatoes. $($Record debits first, then credits. Round your answers to the nearest whole dollar.$)$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[,$Raw Materials Inventory,$10,560,],[$Direct Materials Price Variance,$500,],[$Accounts Payable,,$11,060]]$

Record the journal entry for the use of the potatoes. $($Record debits first, then credits. Round your answers to the nearest whole dollar.$)$

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[,$Work in Process Inventory,$10,263,],[,$Direct Materials Efficiency Variance,$63,],[,$Raw Materials Inventory,,$]]$

Are the variances favourable or unfavourable? Explain. standard cost. They also used more kilograms of potatoes than the standard allowed for the actual production volume.