​ *Actual Hours Are Equal to Standard Hours for Units Produced.​

Multiple Choice

​
*Actual hours are equal to standard hours for units produced.​
-A company records its inventory purchases at standard cost but also records purchase price variances. The company purchased 5,000 widgets at $8.00 each, and the standard cost for the widgets is $7.60. Which of the following would be included in the journal entry?

A) debit Accounts Payable, $38,000
B) credit Direct Materials Price Variance, $2,000
C) debit Accounts Payable, $2,000
D) debit Direct Materials Price Variance, $2,000