Problem - Standard Cost:
DM: 5 grams at .35 per gram
DL: 1 hour at 8$
Last period the company had the follwoing results:
- 5,000 grams of DM at .40 per gram
- 4,000 grams of DM used in productio
- 900 units of production were made
- 850 hrs direct labor were used
Required - What is the Journal entry made to Work in Progress, and Materials Quantity Variance?