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Prepare journal entries

Record the actual costs of direct Materials incurred. General Journal Clear entry Valley Stream Mist Valley Stream Variances ste: Enter debits before credits General Journal Debit Credi the journal entries to record the activity of Valley Stream Costs for the last Event for a transaction/event, select "No journal entry required in the first acco1 nsaction list rnal entry worksheet B C D E F G H ..... K ord the actual costs of direct Materials incurred. Enter debits before credits General Journal Debit Credit Record entry Clear entry View general Sweetwater Company manufactures two products, Mountain Mist and Valley Stream. The company prepares its master budget on the basis of standard costs. The following data are for March Mountain Mist 3 ounces at $15 per ounce 5 hours at $60 per hour Valley Stream 4 ounces at $16.50 per ounce 6 hours at $75 per hour $48 $335, 340 5,750 $52.50 $397,800 7,800 Standards Direct materials Direct labor Variable overhead (per direct labor- hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) 3,100 ounces at $13.50 per 4,700 ounces at $17.25 per ounce ounce 4,900 hours at $60.75 per hour 7,400 hours at $76.50 per hour $242,550 $378,510 $313,95 $396, eee 1,000 units 1,200 units Assume that the company carries no beginning or ending inventories. Sales in March totaled $3,150,000 for both products combined. Required: Prepare the journal entries to record the activity for the last month using standard costing. Assume that all variances are closed to Cost of Goods Sold at the end of the month. Record the actual costs of direct Materials incurred. General Journal Clear entry Valley Stream Mist Valley Stream Variances ste: Enter debits before credits General Journal Debit Credi the journal entries to record the activity of Valley Stream Costs for the last Event for a transaction/event, select "No journal entry required in the first acco1 nsaction list rnal entry worksheet B C D E F G H ..... K ord the actual costs of direct Materials incurred. Enter debits before credits General Journal Debit Credit Record entry Clear entry View general Sweetwater Company manufactures two products, Mountain Mist and Valley Stream. The company prepares its master budget on the basis of standard costs. The following data are for March Mountain Mist 3 ounces at $15 per ounce 5 hours at $60 per hour Valley Stream 4 ounces at $16.50 per ounce 6 hours at $75 per hour $48 $335, 340 5,750 $52.50 $397,800 7,800 Standards Direct materials Direct labor Variable overhead (per direct labor- hour) Fixed overhead (per month) Expected activity (direct labor-hours) Actual results Direct material (purchased and used) Direct labor Variable overhead Fixed overhead Units produced (actual) 3,100 ounces at $13.50 per 4,700 ounces at $17.25 per ounce ounce 4,900 hours at $60.75 per hour 7,400 hours at $76.50 per hour $242,550 $378,510 $313,95 $396, eee 1,000 units 1,200 units Assume that the company carries no beginning or ending inventories. Sales in March totaled $3,150,000 for both products combined. Required: Prepare the journal entries to record the activity for the last month using standard costing. Assume that all variances are closed to Cost of Goods Sold at the end of the month

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