Amada Company's standard cost system reports this information from its December operations.Standard direct materials costDirect materials quantity varianceDirect materials price varianceActual direct labor costDirect labor efficiency varianceDirect labor rate varianceActual overhead costVolume varianceControllable varianceView transaction listJournal entry worksheet1Required:1. Prepare December 31 journal entries to record the company's costs and variances for the month for (a) direct materials, (b) directlabor, and (c) overhead. Ignore the journal entry to close the variances.23Record direct materials costs and variances.DateDecember31Note: Enter debits before credits.$ 100,000General Journal3,000 U500 F90,0007,000 F1,200 U375,00012,000 U9,000 UDebitCredit>

Name: Amada Company's standard cost system reports this information from it
Uploaded: 2024-03-20T06:33:06.000Z
Channel: Bartleby
Description: Amada Company's standard cost system reports this information from its December operations.Standard direct materials costDirect materials quantity varianceDirect materials price varianceActual direct labor costDirect labor efficiency varianceDirect

Standard Costing Or Variances Means The Difference Between The Standard/ Budgeted Cost And Actual…

Business

Accounting

Standard direct materials cost Direct materials quantity variance Direct materials price variance Actual direct labor cost Direct labor efficiency variance Direct labor rate variance Actual overhead cost Volume variance Controllable variance $ 100,000 3,000 U 500 F 90,000 7,000 F 1,200 U 375,000 12,000 U 9,000 U Required: 1. Prepare December 31 journal entries to record the company's costs and va abor, and (c) overhead. Ignore the journal entry to close the variances.

Standard direct materials cost Direct materials quantity variance Direct materials price variance Actual direct labor cost Direct labor efficiency variance Direct labor rate variance Actual overhead cost Volume variance Controllable variance $ 100,000 3,000 U 500 F 90,000 7,000 F 1,200 U 375,000 12,000 U 9,000 U Required: 1. Prepare December 31 journal entries to record the company's costs and va abor, and (c) overhead. Ignore the journal entry to close the variances.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Similar questions

Please do not give solution in image format
Using the following data from the records of Starts Inc. for November of the current year, prepare an income statement (through operating income) that includes variances for presentation to management: Administrative expenses $ 63,200 Cost of goods sold (at standard) 350,000 Direct materials quantity variance—favorable 550 Direct materials price variance—favorable 3,200 Direct labor time variance—unfavorable 600 Direct labor rate variance—favorable 750 Factory overhead volume variance—unfavorable 8,000 Factory overhead controllable variance—favorable 2,500 Sales 690,000 Selling expenses 172,000
Please help me with show all calculation thanku
Please Do not Give image format
Subject: Cost Accounting
Do not give solution in image
Budget Performance Report Salisbury Bottle Company manufactures plastic two-liter bottles for the beverage industry. The cost standards per 100 two-liter bottles are as follows: Standard Cost per 100 Two-Liter Cost Category Direct labor Direct materials Factory overhead Total At the beginning of March, Salisbury's management planned to produce 500,000 bottles. The actual number of bottles produced for March was 525,000 bottles. The actual costs for March of the current year were as follows: Actual Cost for the Month Ended March 31 Cost Category Direct labor Direct materials Factory overhead Total Bottles $1.20 6.50 1.80 $9.50 Manufacturing costs: Direct labor Direct materials Factory overhead Total a. Prepare the March manufacturing standard cost budget (direct labor, direct materials, and factory overhead) for Salisbury, assuming planned production. Salisbury Bottle Company Manufacturing Cost Budget For the Month Ended March 31 $6,550 33,800 9,100 $49,450 $ Standard Cost at Planned…
9 part 1
Please do not give solution in image format thanku
119. Fixed overhead efficiency variance is nearest toA. P710 U B. P730 UC. P740 UD. P790 U
Please do not give solution in image format thanku
Do not give answer in image