Record debits first. then cre lebits first, then credits. Selen The following direct materials variance analysis was performed for Longman. (Click the icon to view the moteriats variance analysis.) Read the requirsments. Requirement 1. Record Longman's direct motoriais joutnal entries. Absume purchases were made on nccount. Begin by fournalizing the purchase of direct materials, including the related vaciance. (Prepare a aingle compound joumal entry. Record debits first, then cro explanations en the tast line of the fournal entry table.) Now, joumnilize the usoge of direct materials, including the related variance, (Prepare a single compound journal entry Record debis first, therl creaite Selec on the last line of the joumal entry table.) Now, joumalize the usage of direct maserials, inckuding the related variance. (Prepare a single compound jocimal entiy. Record dobita first, then credits, Sitioct the explariation ou the last line of the journal entry table.) Requirement 2. Explain what manageenent will do with this variance icformation. enouph for Longman's manngement ta know that a varianco occurred. They why it ocourred, Each of the direct niateriats vacinncos will bel Record debits first. then cre lebits first, then credits. Selen The following direct materials variance analysis was performed for Longman. (Click the icon to view the moteriats variance analysis.) Read the requirsments. Requirement 1. Record Longman's direct motoriais joutnal entries. Absume purchases were made on nccount. Begin by fournalizing the purchase of direct materials, including the related vaciance. (Prepare a aingle compound joumal entry. Record debits first, then cro explanations en the tast line of the fournal entry table.) Now, joumnilize the usoge of direct materials, including the related variance, (Prepare a single compound journal entry Record debis first, therl creaite Selec on the last line of the joumal entry table.) Now, joumalize the usage of direct maserials, inckuding the related variance. (Prepare a single compound jocimal entiy. Record dobita first, then credits, Sitioct the explariation ou the last line of the journal entry table.) Requirement 2. Explain what manageenent will do with this variance icformation. enouph for Longman's manngement ta know that a varianco occurred. They why it ocourred, Each of the direct niateriats vacinncos will bel