Moving Question 26 3 points Materials Variances (5 minutes - 3 marks) Instayam manufactures selfie sticks. The company sells each selfie stick for $8. At the start of the month, Instayam estimated that 9436 selfie sticks would be produced in May. Instayam has the following estimated ma costs to produce one soffie stick Direct materials-2.5 pounds @ $3 per pound Direct labour-0.9 hours $10 per hour During May, the following activity occurred related to the production of selfie sticks 8909 wore produced during the month A total of 23769 pounds of materials were purchased and used at a cost of $67785. 5121 hours of labour were incurred during the month at a cost of $54821. REQUIRED. Calculate the materials price variance. Do not use $ signs in your final answer. Round your final answer to the ne round intermediary answers. Show favourable variances as negative and unfavourable variances as positive. Do not write F of