UlUme is $4,000. Fach case in E8-1 through E8- a. Analyze the variances for materials and labor 5 requires the following: Set up a standa rd c ost summary showing the standard unit cost. Set u b. Make journal entries to record the transfer to Work in Process of 1. materials costs; 2. labor costs; 3. overhead costs. When making these entries, include the variances. d. Prepare the journal entry to record the transfer of costs to the finished goods account. Standard unit cost; variance analysis; journal entries 81 1,000 units were started and finished. 8-1 Case 1: All prices and quantities for the cost elements are standard except for materials cost, which is $8.50 per pound. Case 2: All prices and quantities for the cost elements are standard except that 1,900 pounds of materials were used Standard unit cost; variance analysis; journal entries All of the deviations listed in E8-1 and E8-2 took place, and 950 units were started and finished. UlUme is $4,000. Fach case in E8-1 through E8- a. Analyze the variances for materials and labor 5 requires the following: Set up a standa rd c ost summary showing the standard unit cost. Set u b. Make journal entries to record the transfer to Work in Process of 1. materials costs; 2. labor costs; 3. overhead costs. When making these entries, include the variances. d. Prepare the journal entry to record the transfer of costs to the finished goods account. Standard unit cost; variance analysis; journal entries 81 1,000 units were started and finished. 8-1 Case 1: All prices and quantities for the cost elements are standard except for materials cost, which is $8.50 per pound. Case 2: All prices and quantities for the cost elements are standard except that 1,900 pounds of materials were used Standard unit cost; variance analysis; journal entries All of the deviations listed in E8-1 and E8-2 took place, and 950 units were started and finished