Oak Company produces a chair for which the standard is 6 yards of material per unit. The standard price of one yard of material is $7.50. During the month, 8,500 chairs were manufactured, using 48,875 yards. Journalize the entry to record the direct materials used in production. Round your answers to 2 decimal places. If an amount box does not require an entry, leave it blank. Oak Company produces a chair for which the standard is 6 yards of material per unit. The standard price of one yard of material is $7.50. During the month, 8,500 chairs were manufactured, using 48,875 yards. Journalize the entry to record the direct materials used in production. Round your answers to 2 decimal places. If an amount box does not require an entry, leave it blank. Cash Direct Materials Quantity Variance Finished Goods Materials Work in Process