P6.50During the month of December, 25,000 units of chairs were produced. The2 meters @ P3.25 per meter0.40 hours @ P12 per hourDirect materials:P4.80Direct labor:costs related to the production of these chairs were as follows:60,000 meters @ P3.15 per meterDirect materials purchasedDirect materials used in the production 52,500 metersDirect labor9,875 hours @ P12.20 per hourThe standard cost variances for direct materials and direct labor are as follehour124 hours @ P129,875 hours @ PO.20 per hour60,000 meters @ PO.10 per meter2,500 meters @ P3.25 per meter1,500 F1,975 U6,000 F8,125 UperLabor Efficiency VarianceLabor Rate VarianceMaterial Price VarianceMaterial Quantity VarianceRequired: Prepare the jaurnal cntries to record the purchased of materials.used of materials and labor incurrence.

Name: P6.50During the month of December, 25,000 units of chairs were produc
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Description: P6.50During the month of December, 25,000 units of chairs were produced. The2 meters @ P3.25 per meter0.40 hours @ P12 per hourDirect materials:P4.80Direct labor:costs related to the production of these chairs were as follows:60,000 meters @ P3.15 p

Recording journal entries is the basic and the first step of an accounting cycle. Business…

Answered: Required: Prepare the jaurnal cntries…

Business

Accounting

Required: Prepare the jaurnal cntries to record the purchased of materials. used of materials and labor incurrence.

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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