Using the information from the table, what is the direct materials price variance? Please enter a positive number for your answer and round your answer to the nearest dollar. You are not required to indicate whether the variance is favorable or unfavorable. Budgeted direct materials (standard) (5 lbs @ $2.50/lb) Actual direct materials used Actual Units $12.50/unit 500,000 lbs 110,000 units Actual cost of direct materials used Budgeted direct labor (standard) (2 hours @$10/hour) Actual direct labor hours $1,061,974 $20/unit Actual cost of direct labor Budgeted units Budgeted selling price Actual selling price 225,000 hours $2,700,000 100,000 $50 $65