Kyler manufactures coffee mugs that it sells to other companies for customizing with their own logos. Kyler prepares flexible budgets and uses a standard cost system to control manufacturing costs. The standard unit cost of a coffee mug is based on static budget volume of 59,900 coffee mugs per month: (Click the loco to view the cost data.) Actual cost and production information for July 2024 follows: (Click the icon to view actual cost and production information.) Read the requirements Direct labor efficiency variance (AQ-SQ) SC 1,456 U Requirement 2. Journalize the purchase and usage of direct materials and the assignment of direct labor, including the related variances. (Record debits first, then credits. Select the explanation on t the last line of the journal entry table.) Begin by journalizing the purchase of direct materials, including the related variance. (Prepare a single compound journal entry.) Date Accounts and Explanation Jul. Raw Materials Inventory Accounts Payable Debit Credit 2,500 1,700 800 Direct Materials Cost Variance Purchased direct materials Now, journalize the usage of direct materials, including the related variance. (Prepare a single compound journal entry) Date Jul Accounts and Explanation Debit Credit