FastNet Systems's static budget predicted production of and sales of 65 connectors in August, but the company actually produced and sold only 53 connectors Direct materials were budgeted at $0 por connector The company purchased and used direct materials that cost $7,000. What is the journal entry for the direct materials purchased? . Date Credit Accounts and Explanation Work in Process Inventory Direct Materials Cost Variance Raw Materials inventory Debit 4.770 2230 7,000 OB Date Debit Cred 4770 Accounts and Explanation Work-in-Process Inventory Direct Materials Ency Variance Raw Materials inventory 2.230 7.000 OC Date Debit Credit Accounts and Explanation Raw Materials Inventory