During March, a Small Roofing Company Purchased 700 Bundles of a Certain

Multiple Choice

During March, a small roofing company purchased 700 bundles of a certain type of shingle at a price of $35 per bundle, $8 more than the standard price. The company's standard quantity of this type of shingles is 725 bundles.
-Refer to the Figure.What is the journal entry to record the purchase of materials?

A) Materials 19,575Materials Price Variance 5,800Accounts Payable 25,375
B) Materials 24,500Materials Price Variance 5,600Accounts Payable 18,900
C) Materials 18,900Materials Price Variance 5,600Accounts Payable 24,500
D) Materials 25,375Materials Price Variance 5,800Accounts Payable 19,575