Tulip Inc. Uses standard costing, and its manufacturing standars are as follows: 2 pounds of materials at $13 per pound, and 3 hours of labor at $10 per hour. Budgeted production last period was 5,000 units, and actual production and sales was 4,800 units. Last period tulip purchased and used 9,800 pounds of materials for $135,000 and used 15,000 labor hours costing $145,000.What is the journal entry to record the transfer of materials to the Cost of Goods Sold account?

Tulip Inc. uses standard costing, and its manufacturing standards are as follows: 2 pounds used 9,800 pounds of materials for $135,000, and used 15,000 labor hours, costing $145,00 O $ 135,000 Cost of Goods Sold Direct Materials Inventory O $ 135,000 Cost of Goods Sold Direct Materials Quantity Variance Direct Materials Inventory $ 124,800 $ 2,600 $ 127,400 $ 127,400 Cost of Goods Sold Direct Materials Quantity Variance Direct Materials Inventory $ 2,600 $ 124,800 $ 124,800 Cost of Goods Sold Direct Materials Inventory $ 124,800