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Pr 7-24 solution
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DM Variances ($4, )* = $15,000 U (98,055-98,500)*$4.50 = $2002F
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DL Variances (31.50-$30)*4900 = $7350 U ( )*$30= $750 F
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Pr 7-24 Journal Entries 2. Direct Materials Control 450,000
Direct Materials Price Variance 15,000 Accounts Payable or Cash Control 465,000 Work-in-Process Control ,250 Direct Materials Control ,248 Direct Materials Efficiency Variance 2,002 Work-in-Process Control ,750 Direct Manuf. Labor Price Variance ,350 Wages Payable Control ,350 Direct Manuf. Labor Efficiency Variance
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