Refer to the Elegant Designs data set. Assume the company uses a standard cost accounting system.
Elegant Designs is a manufacturer of large flower pots for urban settings. The company has these standards:

Elegant Designs allocates fixed manufacturing overhead to production based on standard direct labor hours. Last month, Elegant Designs reported the following actual results for the production of 1,600 flower pots:

Requirements
1. Record Elegant Designs' direct materials and direct labor journal entries.
2. Record Elegant Designs' journal entries for manufacturing overhead, including the entry that records the overhead variances and closes the Variable and Fixed Manufacturing Overhead accounts.
3. Record the journal entries for the completion and sale of the 1,600 flower pots, assuming Elegant Designs sold (on account) all of the flower pots at a sales price of $530 each (there were no beginning or ending inventories).

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10 pounds per pot at a cost of $3.00 per pound 5.0 hours at a cost of $19.00 per hour $3.00 per direct labor hour Direct materials (resin) Direct labor Standard variable manufacturing overhead rate Budgeted fixed manufacturing overhead Standard fixed MOH rate $94,000 $12.00 per direct labor hour (DLH) Purchased 17,820 pounds at a cost of $3.50 per pound; used 17,120 pounds to produce 1,600 pots Worked 5.5 hours per unit (8,800 total DLH) at a cost of $18.00 per hour $3.20 per direct labor hour for total actual variable manufacturing overhead of $28,160 Direct materials Direct labor Actual variable manufacturing overhead Actual fixed manufacturing overhead. Standard fixed manufacturing overhead allocated based on actual production .. $93,500 .............. $96,000