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What summary journal entry would yama make to record

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question 1: Yama Corporation's actual direct labor cost for the month of July was $45,000. Its labor rate variance for July was $1,000 unfavorable. Its labor efficiency variance was $5,000 favorable. What summary journal entry would Yama make to record this information?

1. DR: Work in Process 41,000

DR: Labor Efficiency Variance 5,000

CR: Labor Efficiency Variance 1,000

CR: Wages Payable 45,000

2. DR: Work in Process 49,000

DR: Labor Rate Variance 1,000

CR: Labor Efficiency Variance 5,000

CR: Wages Payable 45,000

3. DR: Wages Payable 41,000

DR: Labor Efficiency Variance 5,000

CR: Labor Rate Variance 1,000

CR: Work in Process 45,000

4. DR: Wages Payable 49,000

DR: Labor Rate Variance 1,000

CR: Labor Efficiency Variance 5,000

CR: Work in Process 45,000

Reference no: EM132528278

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