In july 2013, Zinger corp. purchased 20,000 gallons of Numerol for $61,000 to use in the production of product #43MR7. During july, zinger corp. manufactured 3,900 units of product #43MR7. the following information is available about standard and actual quantities and costs: Direct material: 4.8 gallons @ $3 per gallon , 18,350 gallons. Direct labor: 20 minutes @ $9 per DLH, 1,290 DLHs @ $9,02 per DLH(a) Compute the material purchase price variance and the material quantity variance(b) Compute the labor rate, labor efficiency, and total labor variance(c) prepare the journal entries for the material and labor variances
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