Superior Company uses a standard cost system and reports the following information for $2024$:

$($Click the icon to view the information.$)$

Superior Company reported the following variances:

$($Click the icon to view the variances.$)$

Superior produced $1,000$ units of finished product in $2024.$

Read the requirements.

Begin by journalizing the purchase of direct materials on account, including the related variance. $($Prepare a single compound journal entry.$)$

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