Barley Hopp, Incorporated, manufactures custom-ordered commemorative beer steins. Its standard cost information follows: Standard Unit Standard Quantity Standard Price (Rate) Direct materials (clay) Direct labor 1.5 pounds $ 1.20 per pound Cost $ 1.80 1.8 hours $ 13.00 per hour 23.40 Variable manufacturing overhead (based on direct labor hours) 1.8 hours $ 1.20 per hour 2.16 Fixed manufacturing overhead ($255,530 101,000 units) 2.53 Barley Hopp had the following actual results last year: Number of units produced and sold Number of pounds of clay purchased and used Cost of clay Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost Required: 83,900 150,850 $ 165,935 126,020 $ 1,877,698 $ 189,030 $ 280,000 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. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. View transaction list View journal entry worksheet the company purchases direct materials as needed and does not maintain any ending inventories. Note: 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 A B Record the entry for direct materials costs and variances. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Direct Materials Price Variance Record entry Clear entry View general journal >