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Haslett inc which produces a single product has prepared

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Haslett Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.

  • Direct materials (8 pounds at $2.50 per pound) $20
  • Direct labor (3 hours at $12.00 per hour) $36

During the month of April, the company manufactures 230 units and incurs the following actual costs.

  • Direct materials purchased and used (1,900 pounds) $4,940
  • Direct labor (700 hours) $8,120

Journalize the entries to record the materials and labor variances. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)

Reference no: EM13595556

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