ABC adopted a standard cost system several years ago. The standard costs for direct materials for its single product are as follows: Materials 15 kilograms 512.00/logram $60.00/unit. All materials are issued at the beginning of processing. The operating data shown below were taken from the records for MARCH Purchases of materials on kilograms) Standard cost of material purchased Materials purchase price variance 40,000 $ 480,000 $ 1,600 favorable The actual direct materials purchase price (AP) per kilogram for MARCH (to two decimal places was $12.20 $11.80 $12.04. $11.96