9 Standard Quantity 13.6 sq.ft 9.8 hrs. 9.8 hrs. Standard Price (Rate) $6 per sq. ft. $13 per hr $ 4 per hr Standard Unit Cost $ 81.60 127.40 Direct materials (fiberglass) Direct labore Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead (521,000 + 350 units) 10 points 39.20 60.ee Rip Tide has the following actual results for the month of June eBook References Number of units produced and sold Number of square feet of fiberglass used Cost of fiberglass used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 180 5,70 $38,192 1,704 $23, 345 $ 6,385 $21,500 Required: 1& 2. Prepare the journal entries to record the direct materials, direct labor costs and related variances for Rip Tide. Assume the company purchases raw materials as needed and does not maintain any ending Inventories. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Do not round intermediate calculations and round your final answers to nearest dollar amount.) View transaction list Journal entry worksheet 2 Record the entry for direct materials costs and variances NoteTwer debits before credits Transaction General Journal Debit Credit ME 9 Direct naterials (fiberglass) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead (521,000 + 350 units) Standard Standard Price Quantity (Rate) 13.6 sq. ft. $6 per sq. ft. 9.8 hrs. $13 per hr 9.8 hrs. 5 4 per hr Standard unit Cost $ 81.60 127.40 39.20 10 points 6e.ee Rip Tide has the following actual results for the month of June References Number of units produced and sold Number of square feet of fiberglass used Cost of fiberglass used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 180 5,70 $38,190 1,704 $23,345 $ 6,105 $21,500 Required: 1 & 2. Prepare the journal entries to record the direct materials, direct labor costs and related variances for Rip Tide. Assume the company purchases raw materials as needed and does not maintain any ending inventories. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field. Do not round intermediate calculations and round your final answers to nearest dollar amount) View transaction list Journal entry worksheet Record the entry for direct labor costs and variance Transaction General Jo Debit