Budgeted Production: 7,000 units Standard Direct Labor rate: $20/hour Standard Direct Labor usage: 6 hours/unit Standard Direct Material price: $1,300/cart Standard Direct Material usage: 0.25 cart/unit Standard Variable Overhead rate: $25/direct labor hour Actual Production: 6,800 units Actual Direct Labor rate: $24/hour Actual Direct Labor Usage: 23,000 hours Actual Direct Material price: $890/cart 1,200 carts (amounts used and purchased are Actual Direct Material usage: the same) Actual Variable Overhead incurred: $900,000 What is the Direct Material Static Budget Variance