PLEASE DO ALL REQUIREMENTS

Junior Com Hole is a small business that Adam Mercado developed while in college. He began building wooden corn hole game sets for friends, hand painted with college colors and logos. As demand grew, he hired some workers and began to manage the operation. Junior Corn Hole maintains two departments: construction and painting. In the construction department, workers use wood to make the game sets. Junior Corn Hole has some employees who have been with the company for a very long time and others who are new and inexperienced. (Click the icon to view more information.) Read the requirements. Requirement 1. For the construction department, calculate the price and efficiency variances for the wood and the price and efficiency variances for direct manufacturing labor. Begin by calculating the price and efficiency variances for the wood. (Do not round any intermediary computations. Enter the amount of the variance, then select whether it is favorable (F) or unfavorable (U).) Requirements 1. For the construction department, calculate the price and efficiency variances for the wood and the price and efficiency variances for direct manufacturing labor. 2. Record the journal entries for the variances incurred. 3. Discuss logical explanations for the combination of variances that the construction department of Junior Corn Hole experienced. Data table Because of the nature of the wood, workers must work around flaws in the materials. Adam does not store inventory, and buys the wood as he receives an order. Actual and standard data for the construction department for September 2020 are shown below