The Koski Company has established standards as follows:

Direct Material	3 pounds @ $4 per pound
Direct Labor	2 hours @ $8 per hour
Variable Overhead	2 hours @ $5 per hour

Actual production figures for the past year were as follows:

Units produced	500
Direct material used	1,600 pounds
Direct material purchased (3000 pounds)	$12,300
Direct labor cost (950 hours)	$7,790
Variable overhead cost incurred	$4,655

The material price variance is:

$6,300 U

$300 U

$150 U