Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Hart Company made 3,380 shelves using 22,380 pounds of wood costing $313,320. The company's direct materials standards for one shelf are 8 pounds of wood at $13.90 per pound. Exercise 21-14A (Algo) Recording and closing materials variances LO P6 Hart Company uses a standard costing system. Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the direct materials variances. View transaction list Journal entry worksheet A Record direct materials price and quantity variances.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Please help me work this out. The four choices in the drop-down boxes under general journal in the second picture are: accounts payable, accounts receivable, cash and controllable variance.
Required information
Use the following information for the Exercises below. (Algo)
[The following information applies to the questions displayed below.]
Hart Company made 3,380 shelves using 22,380 pounds of wood costing $313,320. The company's direct materials
standards for one shelf are 8 pounds of wood at $13.90 per pound.
Exercise 21-14A (Algo) Recording and closing materials variances LO P6
Hart Company uses a standard costing system. Prepare the journal entry to charge direct materials costs to Work in Process Inventory
and record the direct materials variances.
View transaction list
Journal entry worksheet
A
Record direct materials price and quantity variances.
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Transcribed Image Text:Required information Use the following information for the Exercises below. (Algo) [The following information applies to the questions displayed below.] Hart Company made 3,380 shelves using 22,380 pounds of wood costing $313,320. The company's direct materials standards for one shelf are 8 pounds of wood at $13.90 per pound. Exercise 21-14A (Algo) Recording and closing materials variances LO P6 Hart Company uses a standard costing system. Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the direct materials variances. View transaction list Journal entry worksheet A Record direct materials price and quantity variances. < Prev 11 of 21 Next > o search 86°F Sunny
Help
Required information
View transaction list
Journal entry worksheet
A
Record direct materials price and quantity variances.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
Record entry
Clear entry
View general joumal
< Prev
11 of 21
Next >
to search
86°F Sunny
Tenovo
Transcribed Image Text:Help Required information View transaction list Journal entry worksheet A Record direct materials price and quantity variances. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general joumal < Prev 11 of 21 Next > to search 86°F Sunny Tenovo
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