Please help me to solve the following CoursHeroTranscribedText: Steinberg Company had the following direct materials...
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CoursHeroTranscribedText: Steinberg Company had the following direct materials costs for the manufacturing of product T in March: Actual purchase price per pound of direct materials $ 9.10 Standard direct materials allowed for units of product T produced 3,706 pounds Decrease in direct materials inventory 260 pounds Direct materials used in production 3,900 pounds Standard price per pound of material $ 8.85 Required: 1. What was Steinberg's direct materials purchase-price variance and its direct materials usage variance for March? Indicate whether each variance was favorable (F) or unfavorable (U). 2. Prepare the appropriate journal entries for March, Journal entry worksheet 2 > Record the cost of purchases during the month. Note: Enter debits before credits. Transaction General Journal Debit Credit 01 Part 1 has been solved. Please help me to prepare the journal entries for March
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