DM & DL variances; journal entries

Standard for One Unit

Direct material $4\mathrm{.}8$ gallons @ $$3$ per gallon

Direct labor $20$ minutes @ $$9$ per DLH

Actual Usage for July

Direct material $11,010$ gallons

Direct labor $774$ DLHs @ $$9\mathrm{.}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.