Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Quantity 1.6 lbs. 1.8 hrs. Standard Price (Rate) $ 1.10 per lb. $14.00 per hr. Standard Unit Cost $ 1.76 25.20 Direct materials (clay) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($265,740 - 103,000 units) 1.8 hrs. $ 1.80 per hr. 3.24 2.58 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 85,200 161,320 $ 153,254 128, 360 $2,053,760 $ 282,392 $ 270,000 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 2 Record the entry for direct materials costs and variances. Note: Enter debits before credits. Transaction General Journal Debit Credit Journal entry worksheet Record the entry for direct labor costs and variance. Note: Enter debits before credits. Transaction General Journal Debit Credit