Levine Inc., which produces a single product, has prepared the following standard cost sheet for one unit of the product. During the month of April, the company manufactures 150 units and incurs the following actual costs. Journalize the entries to record the materials and labor variances. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Raw Materials Inventory Materials Price Variance Accounts Payable (To record materials price variance) Work in Process Inventory Materials Quantity Variance Raw Materials Inventory (To record materials quantity variance) (To record materials quantity variance) Factory Wages Payable Labor Price Variance Factory Wages Payable (To record labor price variance) Work in Process Inventory Labor Quantity Variance Factory Wages Payable (To record labor quantity variance)