The following direct labor variance analysis was performed for Longman. EEB (Click the icon to view the labor variance analysis.) Read the requirements. Requirement 1. Record Longman's direct labor journal entry (use Wages Payable). Journalize the incurrence and assignment of direct labor costs, including the related variances. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanations on the last line of the ournal entry table.) Date Accounts and Explanation Debit Credit Requirement 2. Explain what management will do with this variance information It enough for Longman's management to know that a variance occurred. They V why it occurred. Each of the direct labor variances will be 1 Data Table AC x AQ SC x AQ SC x SQ $11.00 per DLHr $13.00 per DLHr $13.00 per DLHr ,650 DLHr ,650 DLHr 1,450 DLHr $18,150 $21,450 $18,850 Cost Variance $3,300 F Efficiency Variance $2,600 U Print Done