Please create a thread using your first and last name, and respond to the following: 1. Read pages 304-306 of your textbook - P6: Standard Cost Accounting System 2. Explain how standard costs and variances are recorded in the accounts of a business 3. Using the information about the Wilson Company from the Chapter 8 lecture notes, record the standard DM.DL and overhead costs and variances in journal entries Please create a thread using your first and last name, and respond to the following: 1. Read pages 304-306 of your textbook - P6: Standard Cost Accounting System 2. Explain how standard costs and variances are recorded in the accounts of a business 3. Using the information about the Wilson Company from the Chapter 8 lecture notes, record the standard DM.DL and overhead costs and variances in journal entries