Bliny Corporation makes a product with the following standard costs for direct material and direct labor Direct material: 200 meters at $3.75 per meter Direct labor: 0.40 hours at $13.60 per hour $7.50 $ 5.44 During the most recent month, 5,300 units were produced. The costs associated with the month's production of this product were as follows: $ 48,280 Material purchased: 13,600 meters at $3.55 per meter Material used in production: 11.100 meters Direct labor: 2.100 hours at $14.00 per hour $ 29,400 The standard cost variances for direct material and direct labor are Materials price variance: 13600 meters at $0 20 per meter F Materials quantity variance: 500 meters at $3.75 per meter Labor rate variance: 2,100 hours at $0.40 per hour U Labor efficiency variance: 20 hours at $13.60 per hour F $2.720 F $1,875 U $ 840 U $ 272 F Required: 1. Prepare the journal entry to record the purchase of materials on account for the month. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry works A Record the purchase of materials on account for the month. Note: Enter debits before credits. Transaction General Journal Debit Credit 1 [ TI 12 18 5 TD H TIL JU 11 1 1 Record entry View general journal 2. Prepare the journal entry to record the use of materials for the month. (If no entry is required for a transactionlevent, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet