Green Lawn Corporation
Green Lawn Corporation Wants to Produce a New

Green Lawn Corporation
Green Lawn Corporation wants to produce a new lawnmower. The financial data is as follows: Target price: $\quad \$ 450$
Target profit: $\quad \$ 75$ Estimated cost given current product and process designs: $400
-Refer to The Fantastic Tool Company. What is the journal entry to record both labour variances?

A) Work in Process 1,055,000
Labour Rate Variance 100,000
Labour Efficiency Variance 55,000
Accrued Payroll 1,100,000
B) Work in Process 1,055,000
Labour Rate Variance 105,500
Labour Efficiency Variance 55,000
Accrued Payroll 1,105,500
C) Work in Process 1,055,000
Labour Rate Variance 96,875
Labour Efficiency Variance 55,000
Accrued Payroll 1,096,875
D) Work in Process 1,055,000
Labour Rate Variance 95,000
Labour Efficiency Variance 55,000
Accrued Payroll 1,095,000