Fischer Fabrication reported the following information concerning its direct materials: Direct materials purchased (actual) Standard cost of materials purchased Standard price times actual amount of materials used Actual production Standard direct materials costs per unit produced $365,700 $ 352,500 $ 324,500 55,100 units $6 Assume that Fischer Fabrication had no beginning finished goods inventory and only produced one product. A count of inventory showed that 4,408 units remained in the warehouse. Required: a. Assume Fischer writes off all variances to Cost of Goods Sold. Prepare the entries Fischer would make to record and close out the variances. b. Assume Fischer prorates all variances to the appropriate accounts. Prepare the entries Fischer would make to record and close out the variances.

Proctor Cleaning Products manufactures a product using a process that allows for substitution between two materials, X-1 and Y-7. The company has the following direct materials data for its product: Standard costs for one unit of output 68 units of input at $1.00 12 units of input at $4.60 The following results were reported for January: X-1 Y-7 Units of output produced Materials purchased X-1 Y-7 Proctor has a policy of holding no inventories of any kind. Required: a. Compute materials price and efficiency variances. b. Compute materials mix and yield variances. Required A Required B 18,200 units Complete this question by entering your answers in the tabs below. 1,204,000 units at $1.02 224,000 units at $4.551 Materials price variance Materials efficiency variance Compute materials price and efficiency variances. Note: Do not round intermediate calculations. Indicate the effect each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select…

Blossom Company purchases $50,300 of direct raw materials and it incurs $65,400 of direct factory labor costs. Supporting records show that (a) the Assembly Department used $25,800 of direct raw materials and $38,000 of direct factory labor, and (b) the Finishing Department used the remainder. Record the assignment of the costs to the processing departments using the following format. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).) Direct materials used Assign direct factory labor Raw Materials Inventory $ $ Manufacturing Costs Factory Labor Manufacturing Overhead $ $ Assembly Work in Process $ Finishing

Please do not give solution in image format thanku