Barley Hopp, Inc., manufactures custom-ordered commemorative beer steins. Its standard cost information follows Standard Standard Price Quantity 1.9 ibs. 2.3 hrs. 15.00 per hr Standard Rate) Unit Cost 34.50 3.91 2.50 5 1.90 per lb. Direct materials (clay) Direct labor Variable manufacturing overhead (based on S 3.61 2.3 hrs. 1.70 per hr direct labor hours) Fixed manufacturing overhead ($202,500 81,000 units) 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 120.400 110,000 192,500 155.400 5 683.900 5 186.900 5 345,000 Required: Prepare the journal entry to record Barley Hopp's fixed manufacturing overhead costs and related variances for last year. (If no entry is required for a transactionlevent, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the entry for fixed manufacturing overhead costs and variances Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Rip Tide Company manufactures surfboards. Its standard cost information follows StandardStandard Price (Rate Unit Cost Quantity Standard Direct materials (fiberglass) Direct labor Variable manufacturing overhead (based on 13.4 sq. f. 9.9 hrs 9.0 hrs 55.5 per sq. ft. S 15 per hr 5 7 per hr. 5 73.70 148.50 69.30 77.78 direct labor hours) Fixed manufacturing overhead ($21,000 270 units) Rip Tide has the following actual results for the month of June Number of units produced and sold Number o square feet of fiberglass used Cost of fiberglass used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 160 4.800 529.760 1,504 523.312 510.077 522.500 Required: 1 & 2. Prepare the journal entries to record the direct materials, direct labor costs and related variances for Rip Tide. Assume the company purchases raw materials as needed and does not maintai any ending inventories. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations and round your final answers to nearest dollar amount.) View transaction list Import a new list 1 Record the entry for direct materials costs and variances. / 2 Record the entry for direct labor costs and variance