Hoping to check my work in this, thanks!

Use the data in Exhibit 14.5. On October 7, Schmidt Machinery Company purchased 737 pounds of PVC at $42 per pound. On October 9, Schmidt's production department used 737 pounds of PVC for the 797 units of XV-1 it manufactured. Required: Prepare the journal entries to record the purchase and usage of PVC during October. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet X No Date General Journal Debit Credit 1 Oct 07 Direct materials inventory Direct materials purchase-price variancePVC Accounts payable 29,480 1,474 30,954 2 Oct 09 31,880 Work-in-process inventory Direct materials usage variance PVC Direct materials inventory 926 30,954 EXHIBIT 14.5 Standard Cost Sheet, Product XV-1 SCHMIDT MACHINERY COMPANY Standard Cost Sheet Product: XV-1 Subtotal Total $100 40 200 Descriptions Quantity Cost Rate Direct materials: Aluminum 4 pounds $25/pound PVC 1 pound 40/pound Direct labor 5 hours 40/hour Variable factory overhead 5 hours 12/hour Total variable manufacturing cost Fixed factory overhead* 5 hours 24/hour Standard manufacturing cost per unit Standard variable selling and administrative cost per unit 60 $400 120 120 $520 $ 50 *Budgeted fixed factory overhead cost = $120,000