Tulip Inc uses standard costing, and its manufacturing standards are as follows: 3 pounds of materials at $13.5 per pound, and 4 hours of labor at $11 per hour. Budgeted production last period was 5100 units, and actual production was 4,900 units. Last period, Tulip purchased and used 9,900 pounds of materials for $140,000, and used 15,100 labor hours, costing $146,000. What is the Journal entry to record the purchase of materials? Direct Materials Inventory Direct Materials Price Variance Accounts Payable $133,650 $ 6,350 $ 140,000 Direct Materials Inventory Accounts Payable $133,650 $133,650 Direct Materials Inventory Accounts Payable $140,000 $140,0 $140,000 Direct Materials Inventory Direct Materials Price Variance Accounts Payable $ 6,350 $133,650