Brooks Company Uses a Standard Costing System Brooks Company Reports Its Material Price Variances at the Time

Brooks Company uses a standard costing system. The following information pertains to direct materials for the month of June: $\begin{array}{ll}\text { Standard price per lb. } & \$ 15.00 \\\text { Actual purchase price per lb. } & \$ 14.50 \\\text { Quantity purchased } & 3,150 \mathrm{lbs} \\\text { Quantity used } & 2,980 \mathrm{lbs} \\\text { Standard quantity allowed for actual output } & 3,000 \mathrm{lbs} \\\text { Actual output } & 1,000 \text { units }\end{array}$ Brooks Company reports its material price variances at the time of purchase.
What is the journal entry to record material purchases?

A) Materials 47,250 Materials Price Variance1,575
Accounts Payable 45,675
B) Materials 47,165 Materials Price Variance1,490
Accounts Payable 45,675
C) Materials 47,175 Materials Price Variance1,500
Accounts Payable 45,675
D) Materials 44,100 Materials Price Variance1,575
Accounts Payable 45,675