Author Question: Mayberry Company had the following journal entries recorded for the end of June. Unfortunately, the ... (Read 55 times)

09madisonrousseau09 · **on:** Mar 6, 2021

Mayberry Company had the following journal entries recorded for the end of June. Unfortunately, the company's only accountant quit on July 10 and the president is at a loss as to the company's performance for the month of June.

Materials Control

300,000

Direct Materials Price Variance

10,000

Accounts Payable Control

290,000

Work-in-Process Control

120,000

Direct Materials Efficiency Variance

8,000

Materials Control

128,000

Work-in-Process Control

850,000

Direct Manufacturing Labor Price Variance

15,000

Direct Manufacturing Labor Efficiency Variance

18,000

Wages Payable Control

847,000

Required:

a.	What kind of performance did the company have for June? Explain each variance.

b.	Why is Direct Materials given in two entries?

kishoreddi · **Reply #1 on:** Mar 6, 2021

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