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.