Day Ceramics producus large planters to be used in urban landscaping projects A special earth day is used to make the planters. The standard quantity of clay used for each planter in 39 pounds. The company uses a standard bit of $2 26 per pound of clay Daisy produced 2.000 planters in May in that month 80,000 pounds of clay were purchased and used at the total cost of $176,000 Raad the maments Requirement 1, Caldate the direct material price variance Begin by determining the formula for the price variance, then compute the price variance for the direct materials (Enter the variance as a positive number Enter currency amounts in the formula to the nearest cent and then round the final variance amount to the neat whole dollar Label the variance as favorable (F) or unfavorable (U) Abbreviations used DM Direct materials) DM prisvala