Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows:

Standard QuantityStandard Price (Rate)Standard Unit CostDirect materials (plastic)12sq ft.$0.63per sq. ft.$7.56 Direct labor0.3hr.$10.20per hr. 3.06 Variable manufacturing overhead (based on direct labor hours)0.3hr.$0.60per hr. 0.18 Fixed manufacturing overhead ($252,000 840,000 units) 0.30

Parker Plastic had the following actual results for the past year:

Number of units produced and sold 940,000Number of square feet of plastic used 10,810,000Cost of plastic purchased and used$6,594,100Number of labor hours worked 183,000Direct labor cost$1,775,100Variable overhead cost$128,100Fixed overhead cost$232,000

Required: 1., 2., 3., & 4. Prepare the journal entry to record Parker Plastic's direct materials, direct labor, variable overhead, fixed overhead costs and related variances. 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.)