Cioffi Manufacturing Company incorporates standards in its accounts and identifies variances at the time the manufacturing costs are incurred. Journaiize the entries to record the foliowfng transactions. Fiefer to the Chart of Accounts for the correct wording of account titles. Mar. 1 Purchased 2,450 units of copper tubing on account at $52.00 per unit. The standard price is $48.50 per unit. 31 Used 1,900 units of copper tubing in the process of manufacturing 200 air conditioners. Ten units of copper tubing are required, at standard, to produce one air conditioner. Score. DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES 1 Mar. 1 Materials 2 Direct Materials Price Variance V 3 Accounts Payable 4 Mar. 31 Work in Process 5 Direct Materials Quantity Variance 6 Materials