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MANAGERIAL ACC (Ace Davis, Managerial Accounting 2 Gradebook ORION Exercise 14-2 feet of plastic-coated wire on account at a price of $0.23 per foot. Th direct materials standard for the cables allows 8.40 feet of wire at a standard price of $0.21. Duning the year, the company used a total of 562,100 feet of wire to produce 67,000 8-foot ables. (a) Prepare the yournal entry to record the purchase of wire. (Credit account titles are automaticalily indented when amount is entered Do not indent (To record the purchase of wire t) Prepare the yournal entry to recond the use of wire. (Credit account fities are automatically indented when amount as MacBook Pro 0