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Journalize entries to record materials and labor variances

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Question - Products 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: EM131715168

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