Progress Culver Manufacturing provided the following information about its standard costing system for 2022: Standard Data Actual Data Materials 10 lbs. @ $4 per lbs. Produced 4,190 units Labor Budgeted production 3 hrs. @$21 per hr. 3,690 units Materials purchased 51,950 lbs. for $223,385 Materials used 42,900 lbs. Labor worked 11,530 hrs. costing $230,600 (a) Determine the amount of the materials price variance. Identify whether the variance is favorable or unfavorable. Materials Price Variance Save for Later