Calculator James Company manufactures t-shirts. During the year, it manufactured 250,000 t-shirts, using 2 hours of direct labor at a rate of $8.50 per hour. It took James 1,400,000 yards at $2.50 per yard to make the 250,000 t-shirts. The materials and labor standards for manufacturing the t-shirts are: Direct materials (6 yards of fabric $3 per yard) Direct labor (2.4 hours $8.00 per hour) What is James' materials price variance assuming that materials purchased equals materials used? On $750,00 u Ob $750,000 Oc. $700,000 F Od $700,000 u