C-Cubed uses standards to control its costs. The direct materials and direct labor standards for one Fit-Right-Bike, which is made out of chromoly steel, are given below: Direct Materials Direct Labor Quantity Standard 60 inches 3 hours Price Standard $3.50 per inch $20 per hour During the month of September, C-Cubed planned on making 300 bikes, but it actually produced 275 bikes. C-Cubed incurred the following costs: A. 19,000 inches of chromoly steel were purchased at a cost of $3.25 per inch. C-Cubed used only 17,500 inches of chromoly steel in making the 275 bikes. B. Direct laborers worked 855 hours at an average rate of $22 per hour. Compute the materials price variance for September