Problem 8-6AA (Static) Recording and analyzing materials, labor, and overhead variances LO P6 Amada Company's standard cost system reports this information from its December operations. Standard direct materials cost Direct materials quantity variance Direct materials price variance Actual direct labor cost Direct labor efficiency variance Direct labor rate variance Actual overhead cost Volume variance Controllable variance $ 100,000 3,000 U 500 F 90,000 7,000 F 1,200 U 375,000 12,000 U 9,000 U Required: 1. Prepare December 31 journal entries to record the company's costs and variances for the month for (a) direct materials, (b) direct labor, and (c) overhead. Ignore the journal entry to close the variances. Record direct materials costs and variances. Note: Enter debits before credits. General Journal Debit Credit Date December 31 Record direct labor costs and variances. Note: Enter debits before credits. Date General Journal Debit Credit December 31 1 N 2 Record overhead costs and variances. Note: Enter debits before credits. Date General Journal Credit Debit December 31 1 2 3 cord ove Accounts payable Accounts receivable Controllable variance Enter det Cost of goods sold Debit Date ecember 31 2 3 Direct labor efficiency variance ve Direct labor rate variance W Direct materials price variance Direct materials quantity variance er det Debit Factory overhead e ber 2 3 Factory payroll payable ove Finished goods inventory Raw materials inventory Volume variance ter det D Work in process inventory te mher