Robb Industries, Inc. $($RII$),$ developed standard costs for direct material and direct labor. In $2004,$ RII estimated the following standard costs for one of their major products, the $10-$gallon plastic container.

Direct material

SQ: $0\mathrm{.}10$ lbs

SP: $$30\mathrm{.}50/$lb

Direct labor

SQ: $\mathrm{.}05$ hours

SP: $$15\mathrm{.}75/$hour

During June, RII produced and sold $5,000$ containers purchasing and using $510$ pounds of material with an average cost per pound of $$29$ and $290$ direct manufacturing labor$-$hours at an average wage of $$15\mathrm{.}90$ per hour.

What is the direct material price variance? $($enter a negative number for favorable variance$)$

Show how to get the following answer.

Correct Answer:

$-765$