Gills Company produces fish tanks. During the year, 150,000 fish tanks were produced. Materials and labour standards for producing the fish tanks are as follows:Direct materials (2 sheets of glass @ $2 per sheet) — $ 4Direct labour (3 hours @ $8 per hour) — 24The company purchased and used 310,000 sheets of glass at $1. 50 per sheet, and its actual labour hours were 435,000 hours at a wage rate of $8. 50 per hour.Refer to Gills Company. What is the materials price variance?