2 questions 1. Amber Company produces iron table and chair sets. During October, Amber's costs were as follows:2. Parker Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows:

Parker Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year Amber Company produces iron table and chair sets. During October, Amber's costs were as follows: follows: Actual purchase price $ 1. 50 per pound Standard Unit Actual direct labor rate $ 6.70 per hour Standard Quantity Standard Price (Rate) Cost Standard purchase price $ 1.30 per pound Direct materials (plastic) 12 square foot $ 0.70 per square foot $ 8.40 Standard quantity for sets produced 890, 000 pounds Direct labor 1 hour 5 10.90 per hour 10.90 Variable manufacturing overhead (based on direct labor hours) Standard direct labor hours allowed 15, 000 1 hour $ 0.95 per hour 0.95 Fixed manufacturing overhead ($637, 000 + 980,000 units) Actual quantity purchased in October 1, 035, 000 pounds 0. 65 Actual direct labor hours 9,000 Parker Plastic had the following actual results for the past year: Actual quantity used in October 920, 060 pounds Direct labor rate variance $4, 680 F Number of units produced and sold 1, 080,000 Number of square feet of plastic used 12,420,000 Required: Cost of plastic purchased and used 8, 445, 600 Number of labor hours worked 589,000 Direct labor cost $ 5,919, 450 1. Calculate the total cost of purchases for October. Variable overhead cost $ 618,450 2. Compute the direct materials price variance based on the actual quantity purchased. Fixed overhead cost $ 624,000 3. Calculate the direct materials quantity variance based on the actual quantity used. 4. Compute the standard direct labor rate for October. Required: 5. Compute the direct labor efficiency variance for October. 1., 2., 3., & 4. Prepare the journal entry to record Parker Plastic's direct materials, direct labor, variable overhead, and fixed overhead costs and related variances. Assume the company purchases raw materials as needed and does not maintain any ending inventories. For fixed overhead transactions, assume overhead is applied based on budgeted production. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Complete this question by entering your answers in the tabs below. View transaction list Req 1 Req 2 and 3 Req 4 Req 5 Journal entry worksheet Calculate the total cost of purchases for October. B C D Total Purchases Record entry for direct materials costs and variances. Req 2 and 3 > Note: Enter debits before credits. Transaction General Journal Debit Credit