Nolan Manufacturing uses a standard cost system. Standards for direct materials are as​ follows: Direct materials​ (pounds per unit of​ output) Cost per pound of direct materials The company plans to produce units and has purchased on account pounds of direct materials at a net cost of . What is the journal entry to record the purchase of​ materials?

On january 1, year 1, purl corp. purchased as a long-term investment $500,000 face amount of shaw, inc.’s 8% bonds for $456,200. the bonds were purchased to yield 10% interest. the bonds mature on january 1, year 6, and pay interest annually on january 1. purl uses the effective interest method of amortization. what amount (rounded to nearest $100) should purl report on its december 31, year 2, balance sheet for these held-to-maturity bonds?