Question: Doogan Corporation makes a product with the following standard costs: Standard Quantity or HoursStandard Price or RateDirect materials7.4grams$ 2.00per gramDirect labor0.5hours$ 20.00per hourVariable overhead0.5hours$ 7.00per

Doogan Corporation makes a product with the following standard costs:

Standard Quantity or HoursStandard Price or RateDirect materials7.4grams$ 2.00per gramDirect labor0.5hours$ 20.00per hourVariable overhead0.5hours$ 7.00per hour

The company produced 5,200 units in January using 39,310 grams of direct material and 2,380 direct labor-hours. During the month, the company purchased 44,400 grams of the direct material at $1.70 per gram. The actual direct labor rate was $19.30 per hour and the actual variable overhead rate was $6.80 per hour.

The company applies 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 January is?

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