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Parker Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs. lts standard cost information for last year follows: Standard Quantity Standard Price (Rate) Direct materials (plastic) 12 square foot $ 6.66 per square foot Direct labor 6.6 hour S 16.56 per hour Variable manufacturing overhead (based on direct labor hours) 6.6 hour $ 6.?5 per hour Fixed manufacturing overhead {$465,666 + 966,666 units) Parker Plastic had the following actual results for the past year: Number of units produced and sold 1,666,666 Number of square feet of plastic used 11,566,666 Cost of plastic purchased and used $ ?,366,666 Number of labor hours worked 345,666 Direct labor cost $ 3,398,256 Variable overhead cost $ 293,256 Fixed overhead cost $ 388,666 Required: 1., 2.. 3., & 4. Prepare the journal entry to record Parker Plastic's direct materials. direct labor. variable overhead. and xed overhead costs and related variances. Assume the company purchases raw materials as needed and does not maintain any ending inventories. For xed overhead transactions, assume overhead is applied based on budgeted production. Note: If no entry is required fora transactiona'event. select "No Journal Entry Required" in the first account eld. Standard Unit Cost 3; 7.92 6.36 6.45 6.45 Journal entry worksheet A B C D Record entry for direct materials costs and variances. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journalJournal entry worksheet A LLLLL B C D Record entry for direct labor costs and variances. Note: Enter debits before credits. Transaction General Journal Debit Credit 2 Record entry Clear entry View general journalJournal entry worksheet A A B D Record the entry for variable overhead costs and variances. Note: Enter debits before credits. Transaction General Journal Debit Credit 3 Record entry Clear entry View general journalJournal entry worksheet