One of the products of Hearts & Flowers is a one-pound box of chocolate nuggets, packaged in a box bearing the customers logo (minimum order, 50 boxes). The standard cost of the chocolate used is $2 per pound. The standard quantity of chocolate allowed is one pound per box. During November, 21,000 one-pound boxes were produced, requiring 21,500 pounds of chocolate at a total cost of $48,375.

Determine the materials price and quantity variances for November with respect to the chocolate used in producing this product.

Provide the journal entry for direct materials usage in the month of November for Hearts & Flowers.

Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field.

Solve for : Materials Price Variance Debit and Credit

Solve for: Materials Quantity Variance Debit and Credit