Guard, which uses a standard cost accounting system, manufactured 230,000boat fenders during the year, using 1,660,000 of extruded vinyl purchased at $1.40 per foot. Production required 4,300 direct labor hours that cost $12,50 per hour. The materials standard was 7 feet of vinyl per fender at a standard cost of $ 1.50per foot. The labor standard was .023 direct labor hour per fender, at a standard cost of $11.50 per hour.

Given info about variances:

Direct materials price variance$166,000 F

Direct materials quantity variance $75,000 U

Direct labor rate variance $4,300 U

Requirements:

1. Make the journal entries to record the purchase and use of direct materials.

2. Make the journal entries to record the direct labor.

Direct labor efficiency variance $11,385 F