Altanta Industries manufactures gadgets. In the month of March, the company incurred the following: Actual Gadgets produced 11,703 Direct Materials 20,000 purchased pounds 19,000 Direct Materials used pounds Cost of Direct $41,985 Materials purchased 2,500 Direct Labor Hours hours The standards for production are: Direct Materials per gadget Cost of Direct Materials per pound Direct Labor per gadget Standards 3 lbs per gadget $2.23 per pound 18 minutes per gadget (.30 hours) Direct Labor Cost per gadget $6 per gadget What is the Materials Price Variance? Enter a favorable variance as a positive number. Enter an unfavorable variance as a negative number.