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nal Data Table AC X AQ SC XAQ SC XSQ $0.60 per pounds $0 35 per pounds $0.35 per pound X 7,200 pounds 7,800 pounds $4.680 7 800 pounds $2.730 $2,520 stry. R Cost Efficiency Variance Variance 51 950 $210 U Print Done The following direct materials variance analysis was performed for Smithson Click the icon to view the materials variance analysis) Read the requirements Requirement 1. Record Smithson's direct materials journal entries. Assume purchases were made on account Begin by journalizing the purchase of direct materials, including the related variance. (Prepare a single compound journal en Accounts and Explanation Debit Date Credit Now journalize the usage of direct materials, including the related variance (Prepare a single compound journal entry Recor Date Accounts and Explanation Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question investigated and information will be obtained from the managers responsible for each investigated and the managers responsible for each venance will be blamed noted and no further investigations are necessary why it occurred. Each of the direct materia variances will be Requirement 2. Explain what management will do with this variance information enough for Smithson's management to know that a variance occurred They why it occurred Each of the direct materials vanances will be do not need to know Choose from any list or enter any number in the input fields and then continue tot must know Requirement 2. Explain what management will do with this variance information It enough for Smithson's management to know that a variance occurred. They is Ch is not list or enter any number in the input fields and then continue to the next