What is the direct materials static budget variance?

Expected production and sales 7,000 units Expected selling price per unit $ 680 Total fixed costs $1,400,000 In 2018, Beach Bag, Inc. estimated the following standard costs for one of its major products, the canvas tote bag Standard Quantity Standard Price Standard Unit Cost Direct materials 10 pounds $ 8 per pound $80 Direct manufacturing labor 3.7 hours $50 per hour $185 During 2018, the actual number of units produced and sold was 4,800, at an average selling price of $720. The actual cost of direct materials used was $384,000, based on 60,000 pounds purchased at $6.40 per pound. Direct manufacturing labor hours actually used were 18,700, at the rate of $48 per hour. As a result, actual direct manufacturing labor costs were $897,600. Actual fixed costs were $1,170,000. There were no beginning or ending inventories