Theta Company has the following variances at the end of February: Material Price variance 560 Unfavorable Material usage Variance $205 Unfavorable Labor Rate Variance 5110 Unfavorable Labor Eficiency Variance $325 Unfavorable Which of the following is the journal entry to be passed by Theta Company at the end of the month of February to close the variances? On Debit Cost of Goods Sold, 180
Debit Material Price Variance, 60
Debit Material Usage Variance, 205
Credit Labor Rate Variance, 110
Credit Labor Efficiency Variance, 325 Ob Debit Cost of Goods Sold, 360
Debit Material Price Variance, 60
Debit Labor Rate Variance, 110
Credit Material Usage Variance, 205
Credit Labor Efficiency Variance, 325 O Debit Cost of Goods Sold, 200
Credit Material Price Variance, 60
Credit Material Usage Variance, 205
Credit Labor Rate Variance, 110
Credit Labor Efficiency Variance, 325 Od. Debit Cost of Goods Sold, 70
Debit, Labor Rate Variance, 110
Debit Material Usage Variance, 205
Credit Material Price Variance, 60
Credit Labor Efficiency Variance, 325