162. Sarheen, Inc. maintains no inventories and has collected the following data on one of its products for the most recent period: Direct material standard (4lbs. @ $1/1b.) $4/per unit Total direct materials cost variance-unfavorable $13.750 Actual direct material used 125,000 lbs. Actual finished units produced 25,000 units Required: Determine: 1. The direct material usage (quantity) variance. 2. The actual cost of the direct materials purchased and used during the period. (Hint: these two amounts are identical.) 3. The direct material price variance. 4. The correct summary journal entry to record direct material costs for this period's production, including associated standard cost variances. (Note: assume that any price variances are recorded at point of production.)