The Baby Clothing Company makes and sells a single product, called a New bodysuit and employs a standard costing system. The following standards have been established for one unit of New bodysuit: Standard Quantity or Hours Standard Cost per New bodysuit Direct Materials 5 board metre $8.00 Direct Labour 0.7 hours $8.40 There were no inventories of any kind on August 1. During August, the following events occurred: Purchased 14,000 board metres at the total cost of $22,000. Used 10,300 board metres to produce 2,100 New bodysuits. Used 1,400 hours of direct labour time at a total cost of $18,060. (Appendix 10B) To record the purchase of direct materials, the general ledger would include what entry to the Materials Price Variance account?