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Author Question: Waddell Productions makes separate journal entries for all cost accounting-related activities. It ... (Read 74 times)

CQXA

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on: Mar 6, 2021
Waddell Productions makes separate journal entries for all cost accounting-related activities. It uses a standard cost system for all manufacturing items. For the month of June, the following activities have taken place: 

Direct Manufacturing Materials Purchased$300,000
Direct Manufacturing Materials Used250,000
Direct Materials Price Variance10,000unfavorable
 (at time of purchase)
Direct Materials Efficiency Variance15,000favorable
Direct Manufacturing Labor Price Variance6,000favorable
Direct Manufacturing Labor Efficiency Variance4,000favorable
Direct Manufacturing Labor Payable170,000

Required: 
Record the necessary journal entries to close the accounts for the month.
Horngren's Cost Accounting: A Managerial Emphasis ¦ Datar, Rajan ¦ 16th Edition
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Marked as best answer by CQXA on Mar 6, 2021

vickybb89

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Reply #1 on: Mar 6, 2021
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CQXA

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Reply 2 on: Mar 6, 2021
Wow, this really help

CAPTAINAMERICA

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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