Information on Bowgie Chemicals direct materials costs follows:

Actual quantities of direct materials used		30,200
Actual costs of direct materials used	$	133,000
Standard price per unit of direct materials	$	4.22
Flexible budget for direct materials	$	120,100

Bowgie Chemicals has no materials inventories.

Required:

a. Prepare a short report for management showing Bowgie Chemicalss direct materials price and efficiency variances. (Indicate the effect of each variance by "F" for favorable, or "U" for unfavorable.)

b. Prepare the journal entries to record the purchase and use of the direct materials using standard costing.