Rip Tide Company manufactures surfboards. Its standard cost information follows: Standard Standard Price Standard Quantity (Rate) Unit Cost Direct materials (Fiberglass) 15.2 sq. ft. $5.5 per sq. ft. $ 83.60 Direct labor 10.9 hrs. $ 15 per hr. 163.5e Variable manufacturing overhead (based on direct labor hours) 10.9 hrs. $ B per hr. 87.20 Fixed manufacturing overhead 71.64 ($24,000 - 335 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 used Cost of fiberglass used Number of labor hours worked Direct labor cost Variable overhead cost Fixed overhead cost 180 4,700 $28,200 1,902 $29,671 $14,645 $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) View transaction list Journal entry worksheet company purchases raw materials as needed and does not maintain any ending inventories. (Ir transaction/event, select "No Journal Entry Required" in the first account field. Do not round your final answers to nearest dollar amount.) View transaction list Journal entry worksheet Dok