Can someone please help me input the appropriate journal entries for this problem Its due at midnight and im struggling a bit Rip Tide Company manufactures surfboards Its standard cost information follows Standard Quantity Standard Price (Rate) Standard Unit Cost Direct materials (fiberglass) 13 1 sq ft $ 5 8 per sq ft $ 75 98 Direct labor 8 6 hrs $ 12 per hr 103 20 Variable manufacturing overhead (based on direct labor hours) 8 6 hrs $ 5 per hr 43 00 Fixed manufacturing overhead ($27,000 255 units) 105 88 Rip Tide has the following actual results for the month of June Number of units produced and sold 160 Number of square feet of fiberglass used 4,200 Cost of fiberglass used $ 26,460 Number of labor hours worked 1,326 Direct labor cost $ 16,840 Variable overhead cost $ 6,100 Fixed overhead cost $ 26,500 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 maintain 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 )

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Can someone please help me input the appropriate journal entries for this problem. Its due at midnight and im struggling a bit. Rip Tide Company

Can someone please help me input the appropriate journal entries for this problem. Its due at midnight and im struggling a bit.

Rip Tide Company manufactures surfboards. Its standard cost information follows:

	Standard Quantity		Standard Price (Rate)			Standard Unit Cost
Direct materials (fiberglass)	13.1	sq. ft.	$	5.8	per sq. ft.	$	75.98
Direct labor	8.6	hrs.	$	12	per hr.		103.20
Variable manufacturing overhead (based on direct labor hours)	8.6	hrs.	$	5	per hr.		43.00
Fixed manufacturing overhead ($27,000 255 units)							105.88

Rip Tide has the following actual results for the month of June:


Number of units produced and sold		160
Number of square feet of fiberglass used		4,200
Cost of fiberglass used	$	26,460
Number of labor hours worked		1,326
Direct labor cost	$	16,840
Variable overhead cost	$	6,100
Fixed overhead cost	$	26,500

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 maintain 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.)