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. Begin by journalizing the purchase of direct materials on account, including the related variance. (Prepare a single compound journal entry.) Standards: 3 yards of cloth per unit at $1.30 per yard 2 direct labor hours per unit at $19.50 per hour Overhead allocated at $4.00 per direct labor hour Actual: 2,500 yards of cloth were purchased at $1.35 per yard Employees worked 1,200 hours and were paid $19.00 per hour Actual variable overhead was $2,300 Actual fixed overhead was $3,800 \begin{tabular}{lr} \hline Direct materials cost variance & $125U \\ Direct materials efficiency variance & 650F \\ Direct labor cost variance & 600F \\ Direct labor efficiency variance & 15,600F \\ Variable overhead cost variance & 1,600U \\ Variable overhead efficiency variance & 1,600F \\ Fixed overhead cost variance & 800U \\ Fixed overhead volume variance & 2,700F \\ \hline \end{tabular}