Boron Chemical Company produces a synthetic resin that is used in the automotive industry. The company uses a standard cost system. For each gallon of output, the following direct manufacturing costs are anticipated: Direct labor: 2.20 hours at $27.00 per hour Direct materials: 2.20 gallons at $12.00 per gallon 559.40 $26.40 During December of the current year. Boron produced a total of 2.520 gallons of output and incurred the following direct manufacturing costs: Direct labor: 5,450 hours worked at an average wage rate of $19.70 per hour Direct materials Purchased: 6,400 gallons $12.45 per allon used in production 5,700 gallons Boron records price variances for materials at the time of purchase. Required: Prepare journal entries for the following events and transactions 1. Purchase, on credit of direct materials 2. Direct materials issued to production 3. Direct labor cost of units completed this period 4 Direct manufacturing cost (direct labor plus direct materials) of units completed and transferred to finished Goods Inventory 5. Sale on credit), for $170 per gallon of 2.200 gallons of output. (Hint: You will need two journal entries here.) (For all requirements, if no entry is required for a transaction/event, select "No journal entry required in the first account field. Round your answers to the nearest whole dollar amount.) Journal entry worksheet 3 4 5 6 Purchase, on credit, of direct materials. Journal entry worksheet 1 B 3 4 5 6 Direct materials issued to production. Journal entry worksheet 1 4 Direct labor cost of units completed this period, View transaction list Journal entry worksheet