The Carter Company has a standard cost system. In July, the company purchased and used 21,750 pounds of direct material at an actual cost of $52,500 the materials quantity variance was $1,875 unfavorable, and the standard quantity of materials allowed for July production was 21,000 pounds Estimate the materials price variance (MPV) for July (Marking Scheme 2 Marks Each 5 = 10 marks) on The actual price is O a $25 Ob $ 3.89 OC S2.98