Boss Company's standard cost accounting system recorded this information from its December operations. 100,000 Standard direct materials cost 3,000 Direct materials quantity variance (unfavorable) 500 Direct materials price variance (favorable) 90,000 Actual direct labor cost 7,000 Direct labor efficiency variance (favorable) Direct labor rate variance (unfavorable) 1,200 Actual overhead cost 375,000 Volume variance (unfavorable) 12,000 9,000 Controllable variance (unfavorable) Required: 1. Prepare December 31 journal entries to record the company's costs and variances for the month. view transaction list view general journal Journal Entry Worksheet 129 Record the materials costs including the unfavorable quantity and favorable price variances. Date General Journal Debit Credit Dec 31 *Enter debits before credits done clear entry record entry