Give me solution Complete this question by entering your answers in the tabs below.Required A Required B Required C(Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances areclosed to Cost of Goods Sold at the end of the operating period.Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.View transaction listJournal entry worksheetB C D<ANote: Enter debits before credits.Event1Record entry for direct material costs payable and material variances.Work-in-process inventoryRecord entryEGeneral JournalClear entryFG< Required BHDebitCreditLView general journalRequired C >> The River Plant of Carlisle, Incorporated produces a particular metal fixture used in aerospace and maritime industries. The followinginformation is available for the last operating month:• The plant produced and sold 29,164 fixtures for $72 each. Budgeted production was 30,000 fixtures.Standard variable costs per fixture follow:Direct materials: 4 pounds at $4Direct labor: 0.1 hours at $40Variable production overhead: 0.4 machine-hours at $20 per hourTotal variable costs.• Fixed production overhead costs:Monthly budget $816,800Fixed overhead is applied at the rate of $30 per fixture.Actual production costs:Direct materials purchased and used: 106,700 pounds at $4.37Direct labor: 2,900 hours at $44.75Variable overhead: 12,100 machine-hours at $19.57 per hourFixed overhead$ 16.004.008.00$28.00$ 466,279129,775236,797868,000Required:a. Prepare a cost variance analysis for each variable cost for the River Plant.b. Prepare a fixed overhead cost variance analysis.c. (Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances areclosed to Cost of Goods Sold at the end of the operating period.

Name: Give me solution Complete this question by entering your answers in th
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Give me solution Complete this question by entering your answers in the tabs below.Required A Required B Required C(Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances are

1. Direct Materials Usage : Work in Process Inventory $464,000 ($4 x 29,164 fixtures) Direct…

Business

Accounting

c. (Appendix) Prepare the journal entries to record the activity for the last period using standard costing. Assume that all variances are closed to Cost of Goods Sold at the end of the operating period.