DM \& DL variances; journal entries In July, Zinger Corp. purchased 48,000 gallons of Numerol for $146,400 to use in the production of product \#43MR7. During July, Zinger Corp. manufactured 9,360 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 44,040 gallons Direct labor 3,096 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. 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. 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