Your answer is partially correct. How much will the materials price variances differ if the price variance is determined at the time of production? Identify whether the variance is favorable or unfavorable. Materials Price Variance Difference 4000 Unfavorable Save for Later Attempts: 1 of 2 used Submit Answer Martinez Manufacturing provided the following information about its standard costing system for 2022: Standard Data Actual Data Materials Labor Budgeted production 10 lbs. @ $4 per lbs. 3 hrs.@$21 per hr. 3,590 units Produced 4,090 units Materials purchased Materials used 50,990 lbs. for $219,257 41,900 lbs. Labor worked 11,180 hrs, costing $223,600 (a) Your answer is correct. Determine the amount of the materials price variance. Identify whether the variance is favorable or unfavorable. Materials Price Variance 15297 Unfavorable