Pardoe, Inc., manufactures a single product in which variable manufacturing overhead is assigned on the basis of standard direct labor-hours. The company uses a standard cost system and has established the following standards for one unit of product:

	Standard Quantity	Standard Price or Rate	Standard Cost
Direct materials	2.0 pounds	$7.75 per pound	$15.50
Direct labor	0.5 hours	$25 per hour	$12.5
Variable manufacturing overhead	0.5 hours	$6.00 per hour	$3.00

During March, the following activity was recorded by the company:

The company produced 6,800 units during the month.

A total of 17,100 pounds of material were purchased at a cost of $47,880.

There was no beginning inventory of materials on hand to start the month; at the end of the month,

3,420 pounds of material remained in the warehouse.

During March, 3,600 direct labor-hours were worked at a rate of $25.50 per hour.

Variable manufacturing overhead costs during March totaled $11,000.

The direct materials purchases variance is computed when the materials are purchased.

The materials price variance for March is: