[Note] This question and the next (or previous) question are based on the same data! Petrillo Company produces engine parts for large motors and uses standard costing for its production costing and control. The company provided the following information for the month of November: Standards for direct materials per unit 7 lbs, at $6 per lbs. Parts produced 2,000 units Direct materials purchased 12,000 lbs. at $5.8 per lbs. Beginning inventory of direct materials 5,000 lbs. Ending inventory of direct materials 2,000 lbs Which of the following should appear in journal entries to record the purchase of direct materials on account during the period? Debit to Raw Materials for 69,600 Credit to Direct Materials Price Variance for 2.400 Debit to Work-in-process for 84.000 Credit to Accounts Payable for 72,000