Problem #1: Standard Costing You were recently hired as a cost accountant for Procter & Gamble, a manufacturer of household products. The firm uses a standard cost system to control costs. One of the products manufactured is Detergent XZ which is a leading laundry detergent in the UB. The main ingredient in Detergent XZ that helps the washing process work better is propylene glycol. The ingredient is purchased as a dry powder and mixed with water to produce the final product, which is sold in one-gallon containers. production and sales (gallons of detergent) propylene glycol (pounds) propylene glycol (SS) DL cost DL hours foxed manufacturing OH (cost driver =DL cost) Standard 1.490,000 788,000 $1,049,600 $2,130,000 70,066 $1,450,000 Actual 1,680,000 995,000 $1,078,800 $1,940,000 65.541 $1,630,000 (1) Provide the journal entries for the purchase of the propylene glycol. Assume the quantity purchased is equal to the quantity used in production. T (2) Provide the journal entry for the release of propylene glycol to production (3) Provide the journal entry for DL efficiency and spending variances Provide the journal entry for foxed manufacturing OH volume and spending variances. This must also include the appropriate debit/credit to FOH control. (5) What is the standard manufacturing cost per gallon for Detergent XZ? What is the actual manufacturing cost per gallon for detergent XZ? What is the adjustng entry to CGS? LAHTI CGS (plug)