Exercise 25-20 Vista Company installed a standard cost system on January 1. Selected transactions for the month of January are as follows 1. Purchased 16,700 units of raw materials on account at a cost of $3.90 per unit. Standard cost was $3.50 per unit. 2. Issued 16,700 units of raw materials for jobs that required 16,200 standard units of raw materials. 3. Incurred 15,000 actual hours of direct labor at an actual rate of $4.50 per hour. The standard rate is $5.00 per hour. (Credit Factory Wages Payable.) 4. Performed 15,000 hours of direct labor on jobs when standard hours were 15,160 5. Applied overhead to jobs at the rate of 100% of direct labor cost for standard hours allowed. Journalize the January transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to O decimal places, e.g. 125.) No. Account Titles and Explanation . Raw Materials Inventory Debit Credit Materials Price Variance Accounts Payable 2. Work in Process Inventory Materials Quantity Variance Raw Materials Inventory 3 Factory Labor Labor Price Variance Factory Wages Payable Work in Process Inventory Labor Quantity Variance Factory Labor Work in Process Inventory Manufacturing Overhead 5