Question 52 2pts Puget Company has gathered the following information about its purchase and use of raw materials for December: Standard Price (SP) per pound of raw material $12.00 Actual purchase price per pound of raw material $11.50 Standard Quantity Allowed (SQ.A 1,000 for actual production (pounds) Actual Quantity (AQ) of raw materials purchased (pounds) 1,150 Puget Company uses a standard cost system. What is the materials price variance? O $575 favorable O $500 unfavorable O $500 favorable O $575 unfavorable