Saskatewan Can Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the controller. Direct Labor:Direct Material:Quantity, 0.28 hourQuantity, 7 kilogramsRate, $14.00 per hourPrice, $0.66 per kilogram Actual material purchases amounted to 340,400 kilograms at $0.690 per kilogram. Actual costs incurred in the production of 46,000 units were as follows: Direct labor:$197,340 for 13,800 hoursDirect material:$225,354 for 326,600 kilograms **Required:**Post the journal entries prepared above to the appropriate T-accounts below. Be sure to select from the dropdown menu the transaction number associated with each amount posted.---### T-Accounts:#### Raw-Material Inventory- **Left Side (Debits):** - 1. 224,664- **Right Side (Credits):** - 2. 215,556#### Direct-Material Purchase Price Variance- **Left Side (Debits):** - 1. 10,212- **Right Side (Credits):** - 4. 10,212#### Work-in-Process Inventory- **Left Side (Debits):** - 2. - 3. - **Right Side (Credits):**#### Direct-Material Quantity Variance- **Left Side (Debits):**- **Right Side (Credits):** - 2. - 4.#### Accounts Payable- **Left Side (Debits):**- **Right Side (Credits):** - 1. 234,876#### Direct-Labor Rate Variance- **Left Side (Debits):** - 3.- **Right Side (Credits):** - 4.#### Wages Payable- **Left Side (Debits):**- **Right Side (Credits):** - 3.#### Direct-Labor Efficiency Variance- **Left Side (Debits):**- **Right Side (Credits):** - 3. - 4.#### Cost of Goods Sold- **Left Side (Debits):** - 4.- **Right Side (Credits):** ---This table shows various T-accounts used for posting journal entries. Each entry is associated with a transaction number, and the amounts are posted either on the debit or credit side as specified. The accounts include Raw-Material Inventory, Direct-Material Purchase Price Variance, Work-in-Process Inventory, Accounts Payable, Wages Payable, and Cost of Goods Sold, among others. The information helps in understanding variance analysis and the implications on financial statements.

Name: Saskatewan Can Company manufactures recyclable soft-drink cans. A unit
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Saskatewan Can Company manufactures recyclable soft-drink cans. A unit of production is a case of 12 dozen cans. The following standards have been set by the production-engineering staff and the controller. Direct Labor:Direct Material:Quantity, 0.28