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Baskets Inc. gathered the following actual results for the current month: Actual amounts: Units produced 5,200 Direct materials purchased and used (7,300 lbs.) $29,200 Budgeted

Baskets Inc. gathered the following actual results for the current month:

Actual amounts: Units produced 5,200 Direct materials purchased and used (7,300 lbs.) $29,200

Budgeted production and standard costs were:

Budgeted production 4,800 units Direct materials 1.5 lbs/unit at $3/lb.

What is the direct materials price variance?

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