Kennedy Corporation makes a product with the following standard costs Standard Quantity or Hours Standard Price or Rate Standard Cost per Unit Direct materials 82 pounds $7.00 per pound $5740 Direct labor 04 hours $20.00 per hour $8.00 Variable overhead 04 hours $2.00 per hour S0.80 The company budgeted for production of 2.400 units in June but actual production was 2.500 units. The company used 19.850 pounds of direct material and 980 direct labor-hours to produce this output. The company purchased 23,000 pounds of the direct material at 57.22 per pound. The actual direct labor rate was $19.20 per hour and the actual variable overhead rate was $1.80 per hour The company apples variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for June is Select one: a$5000.00 Ob$4367 00 o $23.722.86 d. $20 473.06