The cost analyst for Sheffer Systems collected the following data concerning direct materials:

Actual production	38,000	units
Direct materials purchased (actual)	$ 718,300
Standard cost of materials purchased	724,000
Standard direct materials costs per unit produced	17
Standard price times actual amount of materials used	661,200

Assume that Sheffer Systems had no beginning finished goods or direct materials inventory and only produced one product. Sheffer sold 29,260 units during the period.

Required: a. Assume Sheffer writes off all variances to Cost of Goods Sold. Prepare the entries Sheffer would make to record and close out the variances. b. Assume Sheffer prorates all variances to the appropriate accounts. Prepare the entries Sheffer would make to record and close out the variances.