Standard Use Standard Cost 0.9 yards Leather is $22 per yard Direct labor is $9.00 per hour 1.3 hours The actual results for last month were as follows: Number of backpacks produced 15,000 Direct labor hours incurred 18,800 Yards of leather purchased and used in production 14,500 Cost of leather purchased and used $306,675 Direct labor cost $159,800 Compute the materials price variance and indicate it as favorable or unfavorable. An accoptable format would be Sxx xaFor Sxxx, xxU. Note there is no space betwoon the amount and the For U. For example, $11.250For $11.2050 are acceptable formats. Do use cents or place a in front of your answer. For example for this question, -$11.275F-511 2750, 511,275 006 07 -$11275.00 are not acceptable formats