Information on Nebraska Corporation's direct materials costs follows Quantites of chemical Y purchased and used Actual cost of chemical Y used Standard price per gation of chemical Y Standard quantity of chemical. Y atowed Grand Corporation has no materials inventories Required: 20.800 gallons $433,000 $ 24.10 19,200 galons a. What were Grand Corporation's direct materials price and efficiency variances? (Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option) Drect materials price variance Direct materials efficiency variance b. (Appendix) Prepare the joumal entries to record the purchase and use of chemical Y using standard costing. (If no entry is required for a transaction event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet