Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.7 lbs. 2.0 hrs. Standard Price (Rate) $ 1.20 per lb. $11.00 per hr. Standard Unit Cost $ 2.04 22.00 Direct materials (clay) Direct labor 2.0 hrs. $ 1.20 per hr. 2.40 Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($287,020 113,000 units) 2.54 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay used Cost of clay 89, 100 176,470 $ 176,470 Number of labor hours worked Direct labor cost 153,200 $1,853,720 $ 199,160 $ 225,000 Variable overhead cost Fixed overhead cost 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.) View transaction list Journal entry worksheet company purchases direct materials as needed and does not maintain any ending inventories. (Do not round your intermedi calculations. If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 > Record the entry for direct labor costs and variance. Note: Enter debits before credits. Transaction General Journal 2 Cost of Goods Sold Direct Labor Rate Variance Direct Labor Efficiency Variance Cash or Accounts Payable Record entry Clear entry Debit Credit View general journal