Vista Company installed a standard cost system on January 1. Selected transactions for the month of January are as follows. 1. Purchased 18.200 units of raw materials on account at a cost of $2.80 per unit. Standard cost was $2.70 per unit. 2. Issued 18,200 units of raw materials for jobs that required 17,870 standard units of raw materials: 3. Incurred 16,000 actual hours of direct labor at an actual rate of $4.50 per hour. The standard rate is $4.90 per hour. (Credit Factory Wages Payable) 4. Performed 16,000 hours of direct labor on jobs when standard hours were 16,180 . 5. Applied overhead to jobs at the rate of 100% of direct labor cost for standard hours allowed. Question 4 of 5 No. Account Titles and Explanation Debit Credit 1. Raw Materials inventory 49,140 Materials Price Variance 1.820 Accounts Pavable 2. Work in Process Inventory 48.249 Materials Quantity Variance 891 Raw Materiah inventory 3. Factorylabor 78,400 Labor Price Variance Factory Wages Payable 72.000 4. Work in Process inventory 79,282 Factory Wages Payable 4. Work in Process Inventory 79.282 Labor Quantity Variance Factory Labor 5. Work in Process imventory 78,400 Manufacturing Overhead