Antica uses a standard cost system for materials and labor in producing small fishing boats. Production requires fiberglass, paint, and a purchased trim package as well as direct as follows:

2,000 pounds of fiberglass @ $1.80 per pound	$3,600
6 quarts of gel coat paint @ $15 per quart	90
1 trim package	200
40 hours of labor @ $25 per hour	1,000
The standard cost for DM and DL	$4,890

The following actual data related to the production of 600 boats was recorded in July

Materials Purchased on Account

Fiberglass 2,100,000 pounds @$1.83 per pound

Paint 1,000 gallons @$55.50 per gallon

Trim Packages 640 @ $205 per package

Materials Used

Fiberglass 1,380,000 pounds

Paint 924 gallons

Trim packages 608

Direct Labor Used

23,850 hours @ $23.50 per hour

REQUIRED:

1. Determine the direct materials price and efficiency variances for Fiberglass?
2. Prepare the journal entries for fiberglass
3. Determine the direct labor price and efficiency variances?
4. Prepare the direct labor journal entries
5. Determine the direct labor price and efficiency variances if direct labor is fixed and we made 610 boats?