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Adler Industries uses a standard cost system in which direct material is carried at standard cost. Adler has established the following standards for one unit

Adler Industries uses a standard cost system in which direct material is carried at standard cost. Adler has established the following standards for one unit of product: standard quantity of 8 pounds, standard price $1.8 per pound. During January, Adler purchased 160,000 pounds of direct material at a cost of $304,000 and used 142,500 pounds in production of 18,700 units.
Calculate the direct materials price variance and indicate whether the variance is favorable or unfavorable.
Direct materials price variance
$
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