Required 1 Required 2 2. Prepare journal entries to record all transactions, including the variances in requirement 1. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) No Transaction General Journal A 1 Direct materials inventory Direct materials purchase-price variance Accounts payable B 2 Work-in-process inventory Direct materials usage variance Direct materials inventory C 3 Debit Credit 268,000 2,680 265,320 221,200 3,200 224,400 Work-in-process inventory Direct labor rate variance Direct labor efficiency variance 1,243,600x 44,000 14,000 Accrued payroll 382,000 < Required 1 Required 2 >