Dock Guard, which uses a standard cost accounting system, manufactured 200,000 boat fenders during the year, using 1,700,000 feet of extruded vinyl purchased at $1.05 per foot. Production required 4,100 direct labor hours that cost $12.50 per hour. The materials standard was 8 feet of vinyl per fender at a standard cost of $1.15 per foot. The labor standard was 0.023 direct labor hour per fender, at a standard cost of $11.00 per hour. (Click the icon to view related variances.) Read the requirements. Requirement 1. Make the journal entries to record the purchase and use of direct materials. (Record debits first, then credits. Explanations are not required. Record both direct labor variances by preparing a single compound entry. Abbreviations used: DM = Direct materials, DL = Direct labor) Begin with the entry to record the purchase of materials. Date Journal Entry Accounts Debit Credit