Actual results

Total cost of purchasing material$58,000

Number of labor hours worked1,000 hours

Number of material pounds used in production5,850 pounds

Total labor cost$48,000

Number of units produced300 units

Number of material pounds purchased6,250 pounds

Leslie Company has established the followingstandards.

Price per pound of materials$10.00 per pound

Number of pounds of material to produce one unit20 pounds

Standard labor rate$50.00 per hour

Number of labor hours to produce one unit3 hours

Compute Leslie's MaterialsPriceVariance.