Jefferson tool purchased 20,000 lbs of direct material at $0.70 per pound. The standard cost per pound of material is $0.60 per pound. The general ledger entry to record the issuance of materials would include:
A.) a debit to materials price variance $2000
B.) a credit to materials price variance $2000
C.) a credit to raw materials of $0.70 per Lb times the number of lbs issued
D.) a credit to raw materials of $0.60 per Lb times the number of lbs issued