Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labour-hours and its standard cost card per unit is as follows: Direct material: 5 pounds at 58 per pound Direct labour 3 hours at $15 per hour Variable overhead: 3 hours at 19 per hour Total standard variable cost per unit $40 45 27 $112 2-11 Fixed overhead was budgeted at $615.000. Fixed overhead is applied on the basis of direct labour-hours. The company also established the following cost formulas for its selling expenses. Variable Cost per Unit Sold Fixed Cost per Month $ 350,000 $ 250,000 Advertising Sales salaries and commissions Shipping expenses $ $ 13.00 4.00 The static te planning) budget for March was based on producing and selling 21.000 units. However , during March the company actually produced and sold 26,000 units and incurred the following costs. a. Purchased 160,000 pounds of raw materials at a cost of $6.5 per pound. All of this material was used in production b. Direct labourers worked 70,000 hours at a rate of $16 per hour Total variable manufacturing overhead for the month was $655,200 And fixed manufacturing overhead was $610,000 d. Total advertising, sales salaries and commissions, and shipping expenses were $364,000, 5579,000, and 5130,000, respectively Required: Preble had purchased 185,000 pounds of materials at $65 per pound and used 160,000 pounds in production, what would be the materials price variance for March? (Input the amount as a positive value. Leave no cells blank - be certain to enter "0" wherever required. Indicate the effect of each variance by selecting "P" for favourable, "U" for unfavourable, and "None" for no effect (i.e., zero variance.).) Materials price variante