Ayayai Manufacturing provided the following information about its standard costing system for 2022: Standard Data Actual Data Materials 10 lbs. @$4 per lbs. Produced 4,010 units Labor 3 hrs @$21 per hr. Materials purchased Budgeted production 3,510 units Materials used 50,110 lbs for $215,473 41,100 lbs. Labor worked 11,020 hrs. costing $220,400 (a) Determine the amount of the materials price variance. Identify whether the variance is favorable or unfavorable Materials Price Variance $ Save for Later Attempts: 0 of 1 used Submit