32. Journalizing Direct Materials and Direct Labor Transactions (Appendix). Hul's Heating produces fumaces for commercial buildings. This is the same company as the previous exercises. This exercise can be assigned independently Direct materials and direct labor variances for the month of January are shown as follows. Materials price variance $12.00) favorable Materials quantity variance 5800 unfavorable Labor rate variance $ 10,000 unfavorable Labor efticiency variance $(21,600) favorable Required: 1. The company purchased 1.500 elements during the month for 538 cach. Assuming a standard price of 540) per element, prepare a journal entry to record the purchase of raw materials for the month 2. The company used 980 elements in production for the month and the flexible budget shows the company expected to use 900 elements. Assuming a standard price of 540 per clement, prepare a journal entry to record the usage of raw materials in production for the month 3. The company used 10.000 direct labor hours during the month with an actual rate of S19 per hour. The flexible budget shows the company expected to use 11.200 direct labor hours at a standard rate of 518 per hour. Prepare a journal entry to record direct labor costs for the month