Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Standard Price Standard Quantity (Rate) Unit Cost 1.6 lbs. $ 1.20 per lb. $ 1.92 2.0 hrs. $11.00 per hr. 22.00 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($278,610 - 111,000 units) 2.0 hrs. $ 1.90 per hr. 3.80 2.51 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 87,800 165,480 $ 173,754 150,600 $1,822,260 $ 376,500 $ 285,000 Required: 1 & 2. Prepare the journal entries to record the direct materials, direct labor and related variances for Barley Hopp. Assume the company purchases direct materials as needed and does not maintain any ending inventories. (Do not round your intermediate calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet