connect 23-3
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Hart Company made 6,200 bookshelves using 88,200 board feet of wood costing $643,860. The company’s direct materials standards for one bookshelf are 16 board feet of wood at $7.20 per board foot. Hart Company records standard costs in its accounts and its material variances in separate accounts when it assigns materials costs to the Goods in Process Inventory account.
| (1) | Prepare the journal entry that both charges the direct materials costs to the Goods in Process Inventory account and records the materials variances in their proper accounts. |
10 years ago