The following direct materials variance analysis was performed for Jackson. (Click the icon to view the materials variance analysis) Read the requirements Requirement 1. Record Jackson's direct materials journal entries. Assume purchases were made on account Begin by journalizing the purchase of direct materials, including the related variance. (Prepare a single compound journal entry. Record debits first, then credits. Select the explanations on the last line of the journal entry table) Date Accounts and Explanation Debit Credit Requirements Data table AC AQ $0.50 per pounds SC AQ SC SQ $0.30 per pounds 50.30 per pound 7.800 pounds $3,900 7,000 pounds $2.340 7,200 pounds $2,160 Cost Vance $1.560 L Print Done Efficiency Variance $180 U 1. Record Jackson's direct materials journal entries. Assume purchases were made on account 2. Explain what management will do with this variance information. Print Done Clear all Check