Heye Inc. has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. Inputs Standard Quantity or Hours per Unit of Output Standard Price or Rate Direct materials 6.7 grams $7.80 per gram Direct labor 0.20 hours $19.00 per hour The company has reported the following actual results for the product for August: Actual output 6,300 units Raw materials purchased 48,100 grams Actual price of raw materials $7.00 per gram Raw materials used in production 42,200 grams Actual direct labor-hours 1,350 hours Actual direct labor rate $20.10 per hour Compute the Materials Price Variance (MPV) for August