Calculate the Material Price Variance and indicate if the variance is favorable or unfavorable

Aane Inc. has thef ctual price paid for material Standard price for material $ 1.20 Actual quantity purchased and used in production 100 Standard quantity for units produced Actual labor rate per hour Standard labor rate per hour Actual hours [I Standard hours for units produced 110 $ 15.00 $ 16.00 200 Calculate the Material price Variance and indicate if the variance is favorable or unfavorable