tiom (0.7 points) Tuscany continued. Budgeted quantity Budgeted price Total Quantity Budgeted production 5000 units Direct materials 10 pounds per unit $10 per pound 50,000 pounds Direct labor hours 4 hours per unit $40 per hour 20,000 hours Overhead allocation rates: variable at $20 per direct labor hour fixed at $30 per direct labor hour At the end of the production cycle, the production, material usage, and labor usage reports revealed the following: Actual quantity Actual price Total Quantity Actual production 6000 units Actual materials 9 pounds per unit $11 per pound 54,000 pounds Actual labor 4.16667 hours per unit $38.00 per hour 25,000 hours Actual overhead allocation rates: variable at $18.48 per direct labor hour fixed at $25.20 per direct labor hour What is the amount of the price variance for direct materials? $54,000 $1 $60,000 $6,000