Waterwars Comoration unes very torinfent standard costs in evaluatirg its manufacturing efficiency. These standards are not "ideal" at this point, but the management a working teward that as a soal, At present, the company uses the following standards. Prodetermined overhead rate based on direct labor hours =$4,20 The lanuary figures for purchasine production, and Iaboe are: The compary purchased 217.900 pounds of raw materials in danuary at a cost of 78s a pound. Production used 217,900 pounds of raw materials to make 110,000 units in January. Direct labor ipent 18 minutes on each product at a cost of $6.90 per hour. Overhead costs foc January totaled $49,532 variable and $71,000 fixed. What is the materials pricevariance? (Reund per unit calculotions to 2 decimal places, e.5. 1.25 and final answer to 0 decimal places, e. . 125.) Materials price variance eTextbook and Media Last saved 1 hour ago. Attempts: 0 of 5 used Saved work will be auto-submitted on the due date. Auto- tubmission can take up to 10 minutes