Requirement 1. Record Brookman's direct labor journal entry (use Wages Payable). Journalize the incurrence and assignment of direct labor costs, including the related variances. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanations on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit - X Data Table AC x AQ SC x AQ SC x SQ $13.00 per DLHr $16.00 per DLHr $16.00 per DLHr 1.650 DLHr 1,650 DLHr 1,200 DLHr - X $21,450 $26,400 $19,200 Requirements 1. Record Brookman's direct labor journal entry (use Wages Payable). 2. Explain what management will do with this variance information. Cost Efficiency Variance Variance $4.950 F $7,200 U Print Done
Requirement 1. Record Brookman's direct labor journal entry (use Wages Payable). Journalize the incurrence and assignment of direct labor costs, including the related variances. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanations on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit - X Data Table AC x AQ SC x AQ SC x SQ $13.00 per DLHr $16.00 per DLHr $16.00 per DLHr 1.650 DLHr 1,650 DLHr 1,200 DLHr - X $21,450 $26,400 $19,200 Requirements 1. Record Brookman's direct labor journal entry (use Wages Payable). 2. Explain what management will do with this variance information. Cost Efficiency Variance Variance $4.950 F $7,200 U Print Done
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 4P: Using the data in P4-2 and Microsoft Excel: 1. Separate the variable and fixed elements. 2....
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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![Requirement 1. Record Brookman's direct labor journal entry (use Wages Payable).
Journalize the incurrence and assignment of direct labor costs, including the related variances. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanations on the last line of the journal entry table.)
Date
Accounts and Explanation
Debit
Credit
- X
Data Table
AC x AQ
SC x AQ
SC x SQ
$13.00 per DLHr
$16.00 per DLHR
$16.00 per DLHr
1,650 DLHF
1,650 DLHR
1.200 DLHr
$21,450
$26.400
$19,200
Requirements
1. Record Brookman's direct labor journal entry (use Wages Payable).
2. Explain what management will do with this variance information.
Cost
Efficiency
Variance
Variance
$4.950 F
S7,200 U
Print
Done
Print
Done](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff76e9eb9-ca0e-4ea6-b8db-b50a5aa45cdc%2F8c7311f7-dd21-4444-b055-8763559e6782%2Fnu46l0p_processed.png&w=3840&q=75)
Transcribed Image Text:Requirement 1. Record Brookman's direct labor journal entry (use Wages Payable).
Journalize the incurrence and assignment of direct labor costs, including the related variances. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanations on the last line of the journal entry table.)
Date
Accounts and Explanation
Debit
Credit
- X
Data Table
AC x AQ
SC x AQ
SC x SQ
$13.00 per DLHr
$16.00 per DLHR
$16.00 per DLHr
1,650 DLHF
1,650 DLHR
1.200 DLHr
$21,450
$26.400
$19,200
Requirements
1. Record Brookman's direct labor journal entry (use Wages Payable).
2. Explain what management will do with this variance information.
Cost
Efficiency
Variance
Variance
$4.950 F
S7,200 U
Print
Done
Print
Done
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