On March 1, the board of directors declared a cash dividend of $0.75 per common share to shareholders of record on March 10, payable March 31. There were 131,000 shares issued and outstanding on March 1 and no additional shares had been issued during the month. Record the entries for March 1, 10, and 31. The cash dividends account is used.

Levine inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. direct materials (9 pounds at $1.80 per pound) $16.20 direct labor (6 hours at $14.00 per hour) $84.00 during the month of april, the company manufactures 270 units and incurs the following actual costs. direct materials purchased and used (2,500 pounds) $5,000 direct labor (1,660 hours) $22,908 compute the total, price, and quantity variances for materials and labor.