ABC Company has set the following standards for one unit of product: Direct materials: 0.5 pounds o $1.00 per pound; Direct labor: 1 hour @ $10.00 per hour. The company produced 35,000 units and had the following actual costs: Direct materials: 18,000 pounds at a total cost of $17,280; Direct labor: 36,000 hours at a total cost of $374,400. Compute the materials price variance. Click the answer you think is right $720 U $500 F $500 U $720 F D) Read about this Do you know the answer? I know it Think so Unsure No idea