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3. Direct materials quantity variance calculation Oh Christmas Tree produces 25-foot strings of Christmas lights. During the past year, the company purchased 400,000 feet of plastic-coated wire at a price of $0.30 per foot. The direct materials standard for strings of Christmas lights, allows 26 feet of wire at a standard price of $0.28. During the year, the company used a total of 435,000 feet of wire to produce 16,750 25- foot strings of Christmas lights. Calculate Oh Christmas Tree's direct materials quantity variance for the year