PR $10-5($LO $10\mathrm{.}3,10\mathrm{.}4)$ Prepare journal entries to record variances at$...$ Prepare journal entries to record variances at Condor Chocolates, which produces fine chocolates sold direct to consumers and wholesale to retailers and restaurants. The following data reflect the standards and actual sales and costs for May $2025.$ At Condor Chocolates, the standard direct materials cost per pound of chocolate candy is $$11\mathrm{.}99.$ Standard direct materials are $1\mathrm{.}2$ pounds for each pound of chocolate candy. Assume that in the current period the actual cost of materials is $$11\mathrm{.}02$ per pound. Condor Chocolates purchases and uses $2,500$ pounds of direct materials to produce $2,500$ pounds of chocolate candy. Standard labor cost is $$15\mathrm{.}00$ per hour and standard labor hours is $45$ minutes per pound of chocolate candy. Assume that it really takes Condor Chocolates $55$ minutes per pound to produce the $2,500$ pounds and that average salary for employees has increased to $$18\mathrm{.}00.$