Bullseye Company manufactures dartboards. Its standard cost information follows: Standard Price (Rate) $ 1.75 per sq. ft. $14.50 per hr. Standard Unit Cost $ 4.375 14.50 Standard Quantity Direct materials (cork board) 2.5 sq. ft. Direct labor 1 hrs. Variable manufacturing overhead (based on direct labor hours) 1 hrs. Fixed manufacturing overhead ($42,500/85,000 units) $ 0.80 per hr. 0.80 0.50 Bullseye has the following actual results for the month of September: Number of units produced and sold Number of square feet of corkboard used Cost of corkboard used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 75,000 212,500 $ 405,875 80,000 $1,080,000 $ 62,400 47,500 Required: 1 & 2. Prepare the journal entries to record the direct materials, direct labor and related variances for Bullseye. 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.) 1 2 Record the entry for direct materials costs and variances. Note: Enter debits before credits. Transaction General Journal Debit Credit 1