The budgeted STANDARD COSTS for one unit of production of a company's major product line is shown below: $ Standard prime costs: Sta ndard Material inputs and costs per unit Standard labour inputs and costs per unit Total standard product cost per unit 1.0 Kilogram 0.25 hour $25.00 per kilogram $45.00 per hour $ $ 25.00 11.25 36.25 During the year, the company produced 50,000 units of this product and the costs and quantities actually incurred during the year are shown below: Total cost S Direct material purchased Direct material used Direct labour costs 75,000 kilogram $23.7 500 per kilogram 51,000 Kilograms at cost/kg $23.75 13,000 hours $45.2250 per hour $ $ 1,781,250 1,2 11,250 587,925 Calculate the Direct Material Price Variance (DMPV) for this year NOTE: You must indicate whether the variance is Favourable or Unfavourable by entering either the letter For the letter U after the number you enter. (e.g. if the variance was $1000 unfavourable, enter 1000 U). DO NOT enter any variance as a negative number. All answers should be shown as positive numbers