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4.) During the last period, the managerial accountant of Red Rose Company has journalized the following variances. DM price variance DM quantity variance DL rate variance DL efficiency variance Overhead controllable variance Overhead volume variance 2,000 F 6,000 F 8,000 U 2,000 F 4,000 U 9,000 F Show the closing journal entry for all variance accounts assuming all units are produced and sold in the same period.

4.) During the last period, the managerial accountant of Red Rose Company has journalized the following variances. DM price variance DM quantity variance DL rate variance DL efficiency variance Overhead controllable variance Overhead volume variance 2,000 F 6,000 F 8,000 U 2,000 F 4,000 U 9,000 F Show the closing journal entry for all variance accounts assuming all units are produced and sold in the same period.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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During the last period, the managerial accountant of Red Rose Company has journalized the following variances. DM price variance 2,000 F DM quantity variance 6,000 F DL rate variance 8,000 U DL efficiency variance 2,000 F Overhead controllable variance 4,000 U Overhead volume variance 9,000 F Show the closing journal entry for all variance accounts assuming all units are produced and sold in the same period.

4.) During the last period, the managerial accountant of Red Rose Company has journalized the following variances. DM price variance DM quantity variance DL rate variance DL efficiency variance Overhead controllable variance Overhead volume variance 2,000 F 6,000 F 8,000 U 2,000 F 4,000 U 9,000 F Show the closing journal entry for all variance accounts assuming all units are produced and sold in the same period.
Transcribed Image Text:4.) During the last period, the managerial accountant of Red Rose Company has journalized the following variances. DM price variance DM quantity variance DL rate variance DL efficiency variance Overhead controllable variance Overhead volume variance 2,000 F 6,000 F 8,000 U 2,000 F 4,000 U 9,000 F Show the closing journal entry for all variance accounts assuming all units are produced and sold in the same period.
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