In July, Zinger Corp. purchased 24,000 gallons of Numerol for $73,200 to use in the production of product #43MR7. During July, Zinger Corp. manufactured 4,680 units of product #43MR7. The following information is available about standard and actual quantities and costs: Standard for One Unit Direct material 4.8 gallons @ $3 per gallon Direct labor 20 minutes @ $9 per DLH Actual Usage for July Direct material 22,020 gallons Direct labor 1,548 DLHs @ $9.02 per DLH a. Compute the material purchase price variance and the material quantity variance. Note: Do not use a negative sign with your answers. Material price variance $ 1,200 Unfavorable Material quantity variance $ 1,332 Favorable 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. Labor rate variance $ * Unfavorable Labor efficiency variance $ 108 Favorable Total labor variance $ * Favorable 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. Account Debit Credit X 1,200 0 72,000 0 Accounts Payable 0 73,200 To record material price variance Work in Process Inventory 0X 0 Material Quantity Variance 0 1,332 Raw Material Inventory 07 0x To record material quantity variance 0 X Labor Efficiency Variance Wages Payable To record labor variances 0 0 0 108