Parker Plastic, Incorporated, manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Direct materials (plastic) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($405,000+ 900,000 units) Parker Plastic had the following actual results for the past year: Number of units produced and sold Number of square feet of plastic used Cost of plastic purchased and used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 1,000,000 11,500,000 $ 7,360,000 345,000 $ 3,398,250 $ 293,250 $ 388,000 Standard Quantity 12 square foot 0.6 hour 0.6 hour Standard Price (Rate) $ 0.66 per square foot $10.50 per hour $ 0.75 per hour. Required: 1., 2., 3., & 4. Prepare the journal entry to record Parker Plastic's direct materials, direct labor, variable overhead, and fixed overhead costs and related variances. Assume the company purchases raw materials as needed and does not maintain any ending inventories. For fixed overhead transactions, assume overhead is applied based on budgeted production. Note: If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Standard Unit Cost $7.92 6.30 0.45 0.45 < A B C D Record entry for direct materials costs and variances. Note: Enter debits before credits. Transaction Record entry General Journal Clear entry Debit Credit View general journal Journal entry worksheet < A B Transaction 2 C Record entry for direct labor costs and variances. Note: Enter debits before credits. Record entry D General Journal Clear entry Debit Credit View general journal Journal entry worksheet A Record the entry for variable overhead costs and variances. < A B Note: Enter debits before credits. Transaction 3 Record entry D General Journal Clear entry Debit Credit View general journal > Journal entry worksheet A B C Record the entry for fixed overhead costs and variances. Note: Enter debits before credits. Transaction 4 D Record entry General Journal Clear entry Debit Credit View general journal