Question

The variance summary for Bell Computers is as follows:
Bell Computers
Variance Summary
For the Year Ended December 31, 2012
Material price variance ........... ($ 4,200) favorable
Material quantity variance ............ 3,300 unfavorable
Labor rate variance .............. (165) favorable
Labor efficiency variance .......... 2,650 unfavorable
Controllable overhead variance ......... 2,550 unfavorable
Overhead volume variance .......... 4,550 unfavorable
Total .................... $ 8,685 unfavorable

Required
Prepare a journal entry to close the variance accounts at Bell Computers .Assume that the total variance is not material and is closed to cost of goods sold.



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  • CreatedSeptember 23, 2013
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