Rip Tide Company manufactures surfboards. Its standard cost information follows: Direct materials (fiberglass) Direct labor Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($32,000 300 units) Standard Quantity 16.9 sq. ft. 10.8 hrs. Standard Price (Rate) $5.8 per sq. ft. $ 12 per hr. Standard Unit Cost $ 98.02 129.60 10.8 hrs. $ 5 per hr. 54.00 106.67 Rip Tide has the following actual results for the month of June: Number of units produced and sold Number of square feet of fiberglass used Cost of fiberglass used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 170 5,100 $33,150 1,766 $22,075 $ 8,124 $29,500 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 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. Do not round intermediate calculations and round your final answers to nearest dollar amount.)