Use the following information for the next 2 questions.
Given the following account balances at the end of the first year of operations: 
-Assuming that variances are considered material, the entry and amount of the direct material price variance allocated to Cost of Goods Sold is
Definitions:
Labor Force Participation Rate
This term refers to the percentage of the working-age population that is either employed or actively looking for work.
Discouraged Workers
Individuals who are not actively seeking work because they believe no jobs are available for them or there are no jobs for which they would qualify.
United States
A country in North America consisting of 50 states, characterized by a diverse geography, culture, and economy.
Structural Unemployment
Structural unemployment occurs when there is a mismatch between the skills workers possess and the skills needed by employers, often due to technological changes or shifts in the economy.
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