View transaction list Journal entry worksheet A B Record the entry for direct materials costs and variances. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Direct Materials Price Variance 1,410 Direct Materials Quantity Variance Record entry Clear entry View general journal ip Tide Company manufactures surfboards. Its standard cost information follows: Standard Quantity Direct materials (fiberglass) Direct labor 19.8 square feet 8.3 hours Variable manufacturing overhead (based on direct labor hours) 8.3 hours Fixed manufacturing overhead ($31,000 335 units) Standard Price (Rate) $ 4.7 per square feet $ 12 per hour $ 4 per hour Standard Unit Cost $ 93.06 99.60 33.20 92.54 ip Tide has the following actual results for the month of June: Number of units produced and sold Number of square feet of fiberglass purchased and used Cost of fiberglass used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost equired: 160 4,700 $ 24,440 1,268 $ 16,104 $ 4,692 $ 29,500 & 2. Prepare the journal entries to record the direct materials, direct labor costs and related variances for Rip Tide. ote: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not >und intermediate calculations and round your final answers to nearest dollar amount. View transaction list View journal entry worksheet No Transaction General Journal Debit Credit View transaction list Journal entry worksheet < A B Record the entry for direct labor costs and variance. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit Direct Materials Price Variance Direct Materials Quantity Variance Record entry Clear entry View general journal