Required information [The following information applies to the questions displayed below.] Hart Company made 3,300 bookshelves...
Required information [The following information applies to the questions displayed below.] Hart Company made 3,060 bookshelves using 22,060 board feet of wood costing $273,544. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.30 per board foot. Hart Company uses a standard costing system. (1) Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances. (2) Assume that Hart's materials variances are the only variances...
Required information The following information applies to the questions displayed below.) Hart Company made 3,020 bookshelves using 22,020 board feet of wood costing $268,644. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.10 per board foot. Hart Company uses a standard costing system (1) Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances, (2) Assume that Hart's materials variances are the only variances...
Required information [The following information applies to the questions displayed below.] Hart Company made 3,080 bookshelves using 22,080 board feet of wood costing $276,000. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.40 per board foot. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (2) Hart applies management by...
Hart Company made 3,140 bookshelves using 22,140 board feet of wood costing $283,392. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.70 per board foot. Hart Company uses a standard costing system. (1) Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances. (2) Assume that Hart's materials variances are the only variances accumulated in the accounting period and that they are immaterial. Prepare...
Hart Company made 3,340 bookshelves using 22,340 board feet of wood costing $308,292. The company's direct materials standards for one bookshelf are 8 board feet of wood at $13.70 per board foot. Hart Company uses a standard costing system. (1) Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances. (2) Assume that Hart's materials variances are the only variances accumulated in the accounting period and that they are immaterial. Prepare...
Hart Company made 3,000 bookshelves using 22,000 board feet of wood costing $266,200. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12 per board foot. Exercise 08-14A Recording and closing materials variances LO P6 Hart Company uses a standard costing system. (1) Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances (2) Assume that Hart's materials variances are the only variances accumulated in...
HOW DO I CALCULATE? Hart Company made 3,240 bookshelves using 22,240 board feet of wood costing $295,792. The company's direct materials standards for one bookshelf are 8 board feet of wood at $13.20 per board foot. Hart Company uses a standard costing system. (1) Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances. (2) Assume that Hart's materials variances are the only variances accumulated in the accounting period and that...
just fill the blanks Required information The following information applies to the questions displayed below] A manufactured product has the following information for June. standard (6 lbs.@$8 per lb.) (3 hrs. $17 per hr.) (3 hrs. $11 per hr.) Actual Direct materials 49,100 lbs. $8.10 per lb. 23,900 hrs. $17.50 per hr. $273,400 8,100 Direct labor Overhead Units manufactured Compute the direct labor rate variance and the direct labor efficiency variance. Indicate whether eac unfavorable. AH Actual Hours SH =...
Check my work Check My Work button is now enabled3Item 9Item 9 Part 2 of 2 1.12 points Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below.] Hart Company made 3,900 bookshelves using 30,000 board feet of wood costing $390,000. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.90 per board foot. Exercise 23-14A Materials variances recorded and closed LO P5 Hart Company...
Required information [The following information applies to the questions displayed below.] Hart Company made 3,060 bookshelves using 22,060 board feet of wood costing $273,544. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.30 per board foot. AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (2) Hart applies management by...