Rip Tide Company manufactures surfboards. Its standard cost information follows: Direct materials (fiberglass) Direct labor Standard Quantity 16.6 square feet 10.7 hours Variable manufacturing overhead (based on direct labor hours) Fixed manufacturing overhead ($33,000 275 units) 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 10.7 hours Standard Price (Rate) $5.4 per square feet $13 per hour $5 per hour 170 5,300 $ 31,800 1,739 $ 23,650 $ 7,999 $ 26,500 Standard Unit Cost $ 89.64 139.10 53.50 120.00 Required: 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.

Rip Tide Company manufactures surfboards. Its standard cost information follows: Rip Tide has the following actual results for the month of June: Required: 1\& 2. Prepare the joumal 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. Rip Tide Company manufactures surfboards. Its standard cost information follows: Required: 18 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 Record the entry for direct materials costs and variances. Note: Enter debits before credits