Haslett Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product.
- Direct materials (8 pounds at $2.50 per pound) $20
- Direct labor (3 hours at $12.00 per hour) $36
During the month of April, the company manufactures 230 units and incurs the following actual costs.
- Direct materials purchased and used (1,900 pounds) $4,940
- Direct labor (700 hours) $8,120
Journalize the entries to record the materials and labor variances. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)