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Journalize entries to record materials and labor variances

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Reference no: EM131712573

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

Direct materials (6 pounds at 1.50 per pound) - $9.00

Direct labor (1 hours at $12.00 per hour) - $12.00

During the month of April, the company manufactures 150 units and incurs the following actual costs.

Direct materials purchased and used (930 pounds) - $1,488

Direct labor (160 hours) - $1,904

Journalize the entries to record the materials and labor variances.

Reference no: EM131712573

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