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16 ! Part 2 of 2 Required information Use the following information for the Exercises...

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Accounting

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16 ! Part 2 of 2 Required information Use the following information for the Exercises below. [The following information applies to the questions displayed below) Hart Company made 3,260 bookshelves using 22,260 board feet of wood costing $298,284. The company's direct materials standards for one bookshelf are 8 board feet of wood at $13,30 per board 6.25 points foot eBook Hint Exercise 23-14A Recording and closing materials variances LO P6 Print References Hart Company uses a standard costing system (1) Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances (2) Assume that Hart's materials variances are the only variances accumulated in the accounting period and that they are immaterial. Prepare the adjusting journal entry to close the variance accounts at period end, 16 Required information A Part 2 of 2 Record price and quantity variances. 6.25 points Note: Enter debits before credits Credit General Journal Debit eBook Transaction 1 Hint Prim References Record entry Clear entry View general journal 16 Required information

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