E The Spendthrift Company purchases $650,000 of materials on credit. The standard cost for the materials is $675,000. Which of the following would be the correct journal entries to record the purchase under a standard costing system? Direct Materials Control Direct Materials Price Variance $675,000 Accounts Payable Control $25,000 $650,000 Accounts Payable Control $650,000 Direct Materials Price Variance $25,000 Direct Materials Control $675,000 O WIP Control $675,000 Direct Materials Price Variance $25,000 Accounts Payable Control $650,000 O Accounts Payable Control $650,000 Direct Materials Price Variance $25,000 $675,000 WIP Control