savannah textiles inc manufactured 500 units of a special multilayer fabric with the trade name stylex during july the standard prome costs for one unit of stylex are
direct material 20 yard at $ 1.35 per yard 27
direct labor 4 hours at $9.00 per hour 36
total standard prime cost $ 63
the following information from the stylex production department pertains to july
direct materials purchased 18,000 yards at $ 1.38 per yard $24,840
direct material used 9,500 yards at $1.38 yard $13,110
direct labor used 2,100 hours at $ 9.15 per hour 19,215
plesae answer all but please part B is more important than A
A direct material price varience, and quantuty variance, direct labor rate variance and efficiency variance inventory
B prepare journal entiry
record the purchase of direct material
add direct material and direct labor cost to work in process
record the direct material and direct labor variance
close these variance to cost of goods sold