Direct materialt 6 pounds at 58 per pound Direct Tabour: 4 hours at $1% per hour Variable overhead: 4 hours at $5 per hour Total standard variable cost per unit $ 48 52 2e $120 Fixed overhead was budgeted at $621000 Fixed overhead is applied on the basis of direct labour hours. The company also established the following cost formulas for its selling expenses Fixed cost per Month $380,000 $280.00 Variable Cost per Unit Sold Advertising Sales salaries and commissions Shipping expenses $11.NO $5.00 The static (e planning) budget for March was based on producing and selling 20,000 units. However, during March the company actually produced and sold 25,500 units and incurred the following costs a. Purchased 170.000 pounds of raw materials at a cost of $72 per pound. All of this material was used in production b. Direct-labourers worked 73,000 hours at a rate of $14 per hour c Total variable manufacturing overhead for the month was $427000. And fixed manufacturing overhead was $616,000 d. Total advertising, sales salaries and commissions, and shipping expenses were $389,000,6550,000, and $133,000, respectively, Required: 11 Preble had purchased 188.000 pounds of materials at $12 per pound and used 170,000 pounds in production, what would be the materials price variance for March? (Input the amount of a positive value Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "F" for favourable, "U" for unfavourable, and "None" for no effectie, zero variance.) Materiale price variance