Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows:

Standard QuantityStandard Price (Rate)Standard Unit CostDirect materials (clay)1.6lbs.$1.50per lb.$2.40Direct labor1.8hrs.$12.00per hr.21.60Variable manufacturing overhead (based on direct labor hours)1.8hrs.$2.00per hr.3.60Fixed manufacturing overhead ($286,720 112,000 units)2.56

Barley Hopp had the following actual results last year:

Number of units produced and sold91,700Number of pounds of clay used176,720Cost of clay$256,244Number of labor hours worked135,060Direct labor cost$1,782,792Variable overhead cost$324,144Fixed overhead cost$290,000

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.).