A company uses the following standard costs to produce a single unit of output. Direct materials 7 pounds at $1.10 per pound 0.4 hour at $9.00 per hour = Manufacturing overhead 0.4 hour at $4.10 per hour = Direct labor = $ 7.70 $ 3.60 $ 1.64 During the latest month, the company purchased and used 66,000 pounds of direct materials at a price of $1.30 per pound to produce 10,000 output. Direct labor costs for the month totaled $33,756 based on 3,880 direct labor hours worked. Variable manufacturing overhead costs inc totaled $12,400 and fixed manufacturing overhead incurred was $10,000. Based on this information, the direct materials price variance for the was:

A company uses the following standard costs to produce a single unit of output. DirectmaterialsDirectlaborManufacturingoverhead7poundsat$1.10perpound=0.4hourat$9.00perhour=0.4hourat$4.10perhour=$7.70$3.60$1.64 During the latest month, the company purchased and used 66,000 pounds of direct materials at a price of $1,30 per pound to produce 10,00 output. Direct labor costs for the month totaled $33,756 based on 3,880 direct labor hours worked. Variable manufacturing overhead costs totaled $12,400 and fixed manufacturing overhead incurred was $10,000. Based on this information, the direct materials price variance for th was