Question: Please please answer in the given format , and provide all working Required A Required B Assume Fischer prorates all variances to the appropriate accounts.
Please please answer in the given format , and provide all working







Required A Required B Assume Fischer prorates all variances to the appropriate accounts. Prepare the entries Fischer would make to record and close out the variances. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet B C Record the closure of direct labor cost variances to Cost of Goods Sold and Finished Goods Inventory. Note: Enter debits before credits. Event General Journal Debit Credit 3 Record entry Clear entry View general journalRequired A Required B Assume Fischer prorates all variances to the appropriate accounts. Prepare the entries Fischer would make to record and close out the variances. Note: If no entry is required for a transaction/event, select "No Journal entry required" In the first account field. View transaction list Journal entry worksheet Record the standard cost of materials used and the materials efficiency variance. Note: Enter debits before credits, Event General Journal Debit Credit Record entry Clear entry View general journalRequired A Required B Assume Fischer writes off all variances to Cost of Goods Sold. Prepare the entries Fischer would make to record and close variances. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet Record the closure of direct labor cost variances to Cost of Goods Sold. Note: Enter debits before credits Event General Journal Debit Credit 3 Record entry Clear entry View general journalComplete this question by entering your answers in the tabs below. Required A Required B Assume Fischer writes off all variances to Cost of Goods Sold. Prepare the entries Fischer would make to record and close o variances. Note: If no entry is required for a transaction/event, select "No journal entry required" In the first account field. View transaction list Journal entry worksheet B Record the cost of the direct materials purchased and the materials price variance. Note: Enter debits before credits. Event General Journal Debit Credit 2 Record entry Clear entry View general journalRequired A Required B Assume Fischer writes off all variances to Cost of Goods Sold. Prepare the entries Fischer would make to record and close out the variances. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. View transaction list Journal entry worksheet A B C > Record the standard cost of materials used and the materials efficiency variance. Note: Enter debits before credits. Event General Journal Debit Credit Record entry Clear entry View general journalFischer Fabrication reported the following Information concerning Its direct materials: Direct materials purchased (actual) $ 374, 100 Standard cost of materials purchased $ 358,500 Standard price times actual amount of materials used $ 330,500 Actual production 56,300 units Standard direct materials costs per unit produced $ 6 Assume that Fischer Fabrication had no beginning finished goods Inventory and only produced one product. A count of inventory showed that 4,504 units remained in the warehouse. Required: a. Assume Fischer writes off all variances to Cost of Goods Sold. Prepare the entries Fischer would make to record and close out the variances. `b. Assume Fischer prorates all variances to the appropriate accounts. Prepare the entries Fischer would make to record and close out the variances. Complete this question by entering your answers in the tabs below. Required A Required a Assume Fischer writes off all variances to Cost of Goods Sold. Prepare the entries Fischer would make to record and close out the variances Note: If no entry is required for a transaction/ event, select "No journal entry required" in the first account field. View transaction list
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
