Required: 1& 2. Prepare the journal entries to record the direct materials, direct labor costs and related variances for Rip Tide. Assume the company purchases direct 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. Do not round intermediate calculations and round your final answers to nearest dollar amount.) View transaction list Journal entry worksheet Record the entry for direct materials costs and variances. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 Record entry Clear entry View general journal View transaction list Journal entry worksheet