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University Of Texas Operations And Supply Chain Management Assignment Help - Acct 561

Question - E22-19 Haslett Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. Direct materials (8 pounds at $2.50 per pound) $20 Direct labor (3 hours at $12.00 per hour) $36 During the month of April, the company manufactures 230 units and incurs the following actual costs. Direct materials purchased and used (1,900 pounds) $4,940 Direct labor (700 hours) $8,120 Journalize the entries to record the materials and labor variances. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.) Account/Description Debit Credit (To record materials price variance) (To record materials quantity variance) (To record labor price varia ...Read More

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