8) Tulip Inc. uses standard costing, and its manufacturing standards are as follows: 2 pounds of materials at $13 per pound, and 3 hours of labor at $10 per hour. Budgeted production last period was 5,000 units, and actual production was 4,800 units. Last period, Tulip purchased and used 9,800 pounds of materials for $135,000, and used 15,000 labor hours, costing $145,000. What is the journal entry to record the use of materials? A) WIP $127,400 Direct materials quantity variance Raw Materials Inventory $2,600 $124,800 B) WIP $124,800 Raw Materials Inventory $124,800 C) WIP $135,000 Raw Materials Inventory $135,000 D) $124,800 2,600 WIP Direct materials quantity variance $127,400 Raw Materials Inventory