PVC Pro produces PVC pipe in 12 foot lengths. The following information was provided concerning its labor and materials Produced Materials used Labor worked Actual Data 12,200 units 4,650 lbs. @ $7.00 per pound 7,450 hrs. costing $80,460 Budget Data Budgeted units Budgeted materials per pipe Budgeted labor per pipe 12,000 units 0.40 lb. @ $7.10 per pound 0.60 hours @ $11.00 per hour How much is the materials price variance?