1. Pr 7-24 solution

2. DM Variances
($4, )* = $15,000 U (98,055-98,500)*$4.50 = $2002F

3. DL Variances
(31.50-$30)*4900 = $7350 U ( )*$30= $750 F

4. Pr 7-24 Journal Entries 2. Direct Materials Control 450,000
Direct Materials Price Variance 15,000
Accounts Payable or Cash Control 465,000
Work-in-Process Control ,250
Direct Materials Control ,248
Direct Materials Efficiency Variance 2,002
Work-in-Process Control ,750
Direct Manuf. Labor Price Variance ,350
Wages Payable Control ,350
Direct Manuf. Labor Efficiency Variance