The following information comes from the records of Barney Co. for the current period.
a. Compute the direct materials price and quantity variances, direct labor rate and efficiency variances and state whether the variance is favorable or unfavorable.
b. Prepare the journal entries to charge direct materials and direct labor costs to work in process and the materials and labor variances to their proper accounts.
Definitions:
Tropical Rainforest
A hot, moist biome found near Earth's equator, characterized by high biodiversity and dense vegetation.
Temperate Deciduous Forest
A biome characterized by four seasons with trees that lose their leaves annually, found in regions with warm summers and cool winters.
Taiga
A biome characterized by coniferous forests, consisting mostly of pines, spruces, and larches, located in cold, northern latitudes.
Largest Biome
The taiga or boreal forest, characterized by coniferous forests, covering vast areas of northern North America and Eurasia.
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