This company uses a standard cost system. They recently purchased 130,000 lbs of material on credit and paid $5 per Ib. The standard cost for the materials is $675,000. Which of the following would be the correct journal entries to record the purchase? Accounts Payable Control $650,000 Direct Materials Price Variance $25,000 WIP Control $675,000 Direct Materials Control $675,000 Direct Materials Price Variance $25,000 Accounts Payable Control $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 Accounts Payable Control $25,000 $650,000