Rip Tide Company manufactures surfboards. Its standard cost information follows: Standard Quantity Direct materials (fiberglass) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($28,000 + 330 units) 11.3 square feet Rip Tide has the following actual results for the month of June: Number of units produced and sold Number of square feet of fiberglass purchased and used Cost of fiberglass used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 9.8 hours 9.8 hours 190 4,100 $27,060 1,782 $ 24,057 $ 11,939 $ 29,500 Required: Standard Price (Rate) $ 5.9 per square feet $ 13 per hour $7 per hour Standard Unit Cost $ 66.67 127.40 68.60 84.85 1 & 2. Prepare the journal entries to record the direct materials, direct labor costs and related variances for Rip Tide. Note: 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. Journal entry worksheet < A B Record the entry for direct materials costs and variances. Note: Enter debits before credits. Transaction General Journal Debit Credit View general journal Record entry Clear entry ces Journal entry worksheet < A B Record the entry for direct labor costs and variance. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit Record entry Clear entry View general journal