Tractor Corporation produces toy tractors. The company uses the following direct cost categories. Required: 1s Comnute the October price and efficiency variances for direct materials (7 marls): Assume that there was no beginning inventory of either direct materials or finished unit Input price variances are isolated upon purchase. Input-efficiency variances are isolated at the time of usage. 2. Prepare journal entries to record the variances in requirement 1 for direct naterials. If an account is not needed in the journal entry, select "N/A" in the Debit or Credit" column. (7 marks)