Question - Levine Inc, which produces a single product, has prepared the following standard cost sheet far one unit of the product.
Direct materials (6 pounds at $2.30 per pound) - $16.30
Direct labor (6 hours at $13.00 per hour) - $78.00
During the month of April, the company manufactures 190 units and incurs the following actual costs.
Direct materials purchased and used {1,210 pounds) - $3,509
Direct labor (1,170 hnurs) - $14,976
Journalize the entries to record the materials and labor variances.