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The following information applies to the questions displayed below.] Saskatewan Can Company manufactures...

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Accounting

The following information applies to the questions displayed below.]

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, 0.23 hour Quantity, 2 kilograms
Rate, $11.50 per hour Price, $0.56 per kilogram

Actual material purchases amounted to 122,400 kilograms at $0.62 per kilogram. Actual costs incurred in the production of 36,000 units were as follows:

Direct labor: $110,916 for 9,360 hours
Direct material: $52,452 for 84,600 kilograms

1.Record the purchase of direct material on account and the direct-material purchase price variance.

2.Record the addition of direct-material cost to work-in-process inventory and the direct-material quantity variance.

3.Record the addition of direct-labor cost to work-in-process inventory and the direct-labor variances.

4.Record the closing of the direct-material and direct-labor variances to cost of goods sold.

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