If materials are purchased on account and the the actual price paid for materials is less than the standard price, the journal entry would include Multiple Choice O debit to Raw Materiais, debit to Material Price Variance, credit to Accounts Payable debit to Work in Process, credit to Material Price Variance, credit to Raw Materials O debit to Raw Materials, credit to Material Price Variance, credit to Accounts Payable debit to Work in Process, debit to Material Price Variance, credit to Raw Materials Which of the following statements is true? Multiple Choice The material quantity variance is recorded when overhead is applied to production, O The material price and the material quantity variances are recorded at the same time. The materials quantity variance is recorded when materials are purchased. O The materials quantity variance is recorded when materials are used in production