Question 11 (6 points) The Happy Company makes and sells a single product called a Kitt. Happy employs a standard costing system. Each Kitt has a standard cost of 5 pounds of material at $12 per pound and 0.9 direct labor hours at $15 per hour. There were no inventories of any kind on June 1. During June, the following events occurred: Purchased 17,000 pounds of material at a total cost of $190,000. Used 15,000 pounds of material to produce 2,400 Kitts. Used 1,900 hours of direct labor time at a total cost of $38,000. To record the purchase of direct materials, the general ledger would include what kind of entry to the Materials Price Variance Account? a) $14,000 credit. b) $14,000 debit. c) $10,000 credit. d) $10,000 debit.