Question: Please solve this problem Exercise 23-22 Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the

Please solve this problem

Please solve this problem Exercise 23-22 Levine Inc., which produces a single

product, has prepared the following standard cost sheet for one unit of

Exercise 23-22 Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. $18.20 $56.00 Direct materials (7 pounds at $2.60 per pound) Direct labor (4 hours at $14.00 per hour) During the month of April, the company manufactures 350 units and incurs the following actual costs Direct materials purchased and used (2,490 pounds) $6,972 $19,448 Direct labor (1,430 hours) Journalize the entries to record the materials and labor variances. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to o decimal places, e.g. 125) Account Titles and Explanation Debit Credit (To record materials price variance)

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