Flexible Budgets Assignment Required information [The following information applies to the questions displayed below.] Hart Company...

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Flexible Budgets Assignment Required information [The following information applies to the questions displayed below.] Hart Company made 3,060 shelves using 22,060 pounds of wood costing $273,544. The company's direct materials standards for one shelf are 8 pounds of wood at $12.30 per pound. AQ-Actual Quantity SQ=Standard Quantity AP Actual Price SP=Standard Price Seved 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Compute the direct materials price and quantity variances along with the total direct materials variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart Investigate further? Which direct materials variances will Hart investigate further? Hart Company uses a standard costing system. Prepare the journal entry to charge direct materials costs to Work in Process In and record the direct materials variances. View transaction list Journal entry worksheet A Record direct materials price and quantity variances. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal 4 Flexible Budgets Assignment Required information [The following information applies to the questions displayed below.] Hart Company made 3,060 shelves using 22,060 pounds of wood costing $273,544. The company's direct materials standards for one shelf are 8 pounds of wood at $12.30 per pound. AQ-Actual Quantity SQ=Standard Quantity AP Actual Price SP=Standard Price Seved 1. Compute the direct materials price and quantity variances along with the total direct materials variance. 2. Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Compute the direct materials price and quantity variances along with the total direct materials variance. (Indicate the effect of each variance by selecting favorable, unfavorable, or no variance.) Actual Cost Standard Cost Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart Investigate further? Which direct materials variances will Hart investigate further? Hart Company uses a standard costing system. Prepare the journal entry to charge direct materials costs to Work in Process In and record the direct materials variances. View transaction list Journal entry worksheet A Record direct materials price and quantity variances. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal 4

Answer rating: 100% (QA)

a AQ 22060 Actual Cost x 273544 Direct Material Price Variance Direct Material Quant... View the full answer