Current Attempt in Progress Concord Manufacturing provided the following information about its standard costing system for 2022: Standard Data Actual Data Materials 10 lbs. @ $4 per lbs. Produced 4,180 units Labor 3 hrs. @ $21 per hr. Materials purchased 51,890 lbs. for $223,127 Budgeted production 3,680 units Materials used 42,800 lbs. Labor worked 11,520 hrs. costing $230,400 (a) (b) Determine the amount of the materials price variance. Identify whether the variance is favorable or unfavorable. Materials Price Variance Save for Later $ Attempts: 0 of 2 used Submit Answer The parts of this question must be completed in order. This part will be available when you complete the part above