Current Attempt in Progress Waterways Corporation uses very stringent standard costs in evaluating its manufacturing efficiency. These standards are not "ideal" at this point, but the management is working toward that as a goal. At present, the company uses the following standards. Predetermined overhead rate based on direct labor hours =$3.72 The January figures for purchasing, production, and labor are: The company purchased 236,000 pounds of raw materials in January at a cost of 784 a pound. Production used 236,000 pounds of raw materials to make 119,000 units in January. Direct labor spent 18 minutes on each product at a cost of $6.90 per hour. Overhead costs for January totaled $42,966 variable and $73,000 fixed. Answer the following questions about standard costs. (a) What is the materials price variance? (Round per unit calculations to 2 decimal places, eg. 1.25 and final answer to O decimal places, eg. 125.) Materials price variance