Bargain Company uses a standard cost system and reports the following information for 2024: @ {Click the icon to View the information.) Data table Standards: 3 yards of cloth per unit at $1 .30 per yard 2 direct labor hours per unit at $20.50 per hour Overhead allocated at $6.00 per direct labor hour Actual: 2.?00 yards of cloth were purchased at $1.35 per yard Employees worked 1.600 hours and were paid $20.00 per hour Actual variable overhead was $1.800 Actual fixed overhead was 58,400 Bargain Company reported the following variances: (Click the icon to view the variances.) Bargain produced 1,000 units of finished product in 2024. Read the requirements.Data table Direct materials cost variance $135 U Direct materials efficiency variance 390 F Direct labor cost variance 800 F Direct labor efficiency variance 8,200 F Variable overhead cost variance 1,400 U Variable overhead efficiency variance 1,400 F Fixed overhead cost variance 800 U Fixed overhead volume variance 2,600 FRequirements Record the journal entries for direct materials. direct labor, variable overhead. and fixed overhead, assuming all expenditures were on account and there were no beginning or ending balances in the inventory accounts (all materials purchased were used in production, and all goods produced were sold). Record the journal entries for the transfer to Finished Goods Inventory and Cost of Goods Sold [omit the journal entry for Sales Revenue}. Record the journal entry to adjust the Manufacturing Overhead account. (Record debits first. then credits. Select the explanation on the last line of the journal entry table} Begin by journalizing the purchase of direct materials on account, including the related variance. (Prepare a single compound journal entry.) Date Accounts and Explanation Debit Credit