4 pts Question 20 The Litton Company has established standards as follows Direct materiat 3 pounds per unit 54 per pound 512 per unit Direct labor 2 hours per unite 58 per hour 516 per unit Variable manufacturing overhead 2 hours per unit @ $5 per hour $10 per unit Actual production figures for the past year are given below. The company records the materials price variance when materials are purchased Units produced Direct materiale Direct material purchased 0.000 pounds) Diret labor cont (1.100 how) Variable manufacturing overhead continourred 600 units 2.000 pounds S11,400 59,240 55,720 The materials price variance is: 5400 54001 5600 5600U