Question

The folowing dinect maerials variance analysis was perfomed for Goldman Clk the lcon to view the materials vaance analysis) Read the requirements Requiement 1. Recond Goldman's direct manerials joumal enries Assume purchases were made on acoount Begin by joumalzing the purchase of direct malerials including the related vaiancePrepare a single copound jounal eny Recond debits ft then credits Select the explanations on the last ine of the joumal entry table Deb Credit Accounts and Explanation Date Now joumalze the usage of direct materials, including the reated varance Ppare a single compeund joumal entry Recot ebis frt then oredts Select the epanations on the last ne of the jounal entry table Credit Debit Accounts and Explanation Date Choose from any list or enter any number in the input felds and then continue to the next question MacBook Pro 7 5 4 2 3 Y E

Answer 1

1.

	Date	Accounts and explanation	Debit	Credit
1		Raw Materials inventory	2400
		Direct Materials Cost variance	1600
		Accounts Payable		4000
2		Work in process inventory	2160
		Direct materials efficiency variance	240
		Raw Materials inventory		2400

2. Blank 1 - not enough

Blank 2 - must know

Blank 3 -  investigated and information will be obtained from the managers responsible for each.