PROBLEM 24.4A Computing and Joumaluing Cost Variances Sven Enterprises is a large producer of gourmet pet food, During April, it produced 147 batchos of puppy meal. Each batch weighs 1,000 pounds. To produce this quantity of output, the company purchased and used 148, 450 pounds of direct materials at a cost of 5593,800 . it also incurred direet iabor costs of $17,600 for the 2,200 hours worked by employees on the puapy meal crew. Manutacturing overhead incurred at the pappy meal plant during April totaled $3,625, of which 52,450 was considered fixed. Sven's Instructions a. Compute the materials price and quantity variances b. Compute the labor rate and etficiency variances. e. Compute the manufacturing overhead spending and volume variances: d. Pecord the jouraal entry to charge materials (at standard) to Work in Precess. e. Record the journal entry to charge direct lahor (at standard) to Work in Process 1. Hecord the fournal entry to charge manufocturing overtead (at standard) to Work in Process. 9. Fhecerd the journal entry to transfer the 167 batches of puppy ineal produced in April to Finished Goods. h. Record the joumal entry to close any over- or underapplied overhead to Cost af Goods Sold