Pronghorn Manufacturing provided the following information about its standard costing system for 2022: Standard Data Actual Data Materials 10 lbs. @$4 per lbs. Produced 4.130 units Labor Budgeted production 3 hrs. @ $21 per hr. 3.630 units Materials purchased Materials used 51,340 lbs. for $220,762 42,300 lbs. Labor worked 11.380 hrs. costing $227,600 (a) Determine the amount of the materials price variance. Identify whether the variance is favorable or unfavorable. Materials Price Variance $