Dexter Company, which produces a single product, has the following standard cost and actual cost information: Standard cost: Direct materials ( 8 pounds @ $2.5/lb) $20 Direct labor (3 direct labor hours @$12/hour) 36 Manufacturing OH (3 DLH @ $10/DLH) 30 Total $86 Dexter Company assigns overhead (OH) cost based on direct labor hours (DLH). The $10/DLH pre- determined overhead rate is determined as follows: $7/DLH variable OH and $3/DLH fixed OH ($2,160/720DLH). 720 DLH reflects the capacity hours of producing 240 units (240 units X 3DLH/unit). Please note that it takes three direct labor hours to produce each unit of product. During the period, 230 units were produced at the following cost: Direct materials ( 1900 pounds @ $2.6/lb) $4,940 8,120 Direct labor (700 hours @$11.60/hour) Manufacturing OH ($4,300 variable OH and $2,000 fixed OH). 6,300 Total $19,360 (Please note that you'll be asked to compute several variances in this exam based on the same information above) Compute the material quantity variance (please a negative sign if the variance is unfavorable)