Following are the variances for Pearl Cooking Company for the month of July. Assume that the price variance for direct materials is calculated at the time of purchase and that the amount of direct materials purchased is equal to the amount of direct materials used, with no beginning or ending inventories for direct materials (F = favourable and U = unfavourable). Direct materials price variance Direct materials efficiency variance Labour price variance Labour efficiency variance Fixed overhead spending variance Variable overhead spending variance Variable overhead efficiency variance $1,400 F 1,100 F 800 U 1,800 F 300 U 800 F 600 F Pearl Cooking considers anything greater than $3,000 as a material variance. Following are end-of-period inventory balances: Work in process Finished goods Cost of goods sold $2,100 6,600 41,300 Determine whether the total variance amount is material. Total Variance Amount