Compound Y23Z Is Used by Overton Corporation to Make One

Compound Y23Z is used by Overton Corporation to make one of its products. The standard cost of compound Y23Z is $38.70 per ounce and the standard quantity is 4.6 per unit of output. Data concerning the compound in the most recent month appear below:
$\begin{array}{lrr} \text {Cost of material purchased in November, per ounce } &\$39.20\\ \text { Material purchased in November, ounces } &2,800\\ \text { Material used in production in November, ounces } &2,360\\ \text {Actual output in November, units } &500\\\end{array}$

The raw material was purchased on account.
Required:
a. Record the purchase of the raw material in a journal entry.
b. Record the use of the raw material in production in a journal entry.