Golf Express produces graphite shafts to be used in the production of golf clubs. Golf Express uses a standard cost system. Golf Express most popular graphite shaft is Flex55. During April 2020 Golf Express produced 2,000 Flex55 shafts. Golf Express had no beginning inventory of graphite compound at the beginning of April 2020. During April, Golf Express purchased 12,000 ounces of graphite compound at a total cost of $49,200. At the end of April, Golf Express still had 3,500 ounces of graphite compound in Raw Materials Inventory. The Standard Direct Material established for production of one Flex55 shaft is 4 ounces of graphite compound. The purchase price standard is $4.00 per ounce of graphite compound. Use the space below to compute the Material Price Variance. Be sure to identify if the variance is favorable (F) or unfavorable (U).