DM & DL variances; journal entries In July, Zinger Corp. purchased 28,000 gallons of Numerol for $85,400 to use in the production of product #43MR7. During July, Zinger Corp. manufactured 5,460 units of product #43MR7. The following information is available about standard and actual quantities and costs: Standard for One Unit Direct material 4.8 gallons @ $3 per gallon Direct labor 20 minutes @ $9 per DLH Actual Usage for July Direct material 25,690 gallons Direct labor 1,806 DLHS @ $9.02 per DLH a. Compute the material purchase price variance and the material quantity variance. Note: Do not use a negative sign with your answers. Material price variance $ Material quantity variance $ 0 0 b. Compute the labor rate, labor efficiency, and total labor variance. Note: Do not use a negative sign with your answers. Note: Round your final answer to the nearest whole dollar. Labor rate variance $ 0 Labor efficiency variance $ 0 Total labor variance 0 c. Prepare the journal entries for the material and labor variances. Note: Round amounts to the nearest whole dollar. Note: Record any multiple debits or any multiple credits in alphabetical order by account name. Account Debit Credit 0 0 0 0 0 0 To record material price variance 0 0 0 0 0 To record material quantity variance 0 0 0 0 0 0 0 0 To record labor variances