if standard costs are recorded in the manufacturing accounts how are recorded varian 648638

1. A company uses a standard cost accounting system. Prepare the journal entry to record these  direct materials variances:

Direct materials cost actually incurred	$73,200
Direct materials quantity variance (favorable)	3,800
Direct materials price variance (unfavorable)	1,300

2. If standard costs are recorded in the manufacturing accounts, how are recorded variances treated at the end of an accounting period?