Milar Corporat

kes a product with the following standard costs:

$\backslash$table$[[,$Standard Quantity,$],[,$or Hours,Standard Price or Rate$],[$erials$,2\mathrm{.}0$ pounds,$$7\mathrm{.}00$ per pound$],[$or$,0\mathrm{.}9$ hours,$$15\mathrm{.}00$ per hour$],[$verhead$,0\mathrm{.}9$ hours,$$5\mathrm{.}00$ per hour$]]$

In January the company produced $4,600$ units using $10,270$ pounds of the direct material and $2,250$ direct labor$-$hours. During the month, the company purchased $10,840$ pounds of the direct material at a cost of $$76,720.$ The actual direct labor cost was $$38,237$ and the actual variable overhead cost was $$11,938.$

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: