Question: Using the information from the table, what is the direct labor price variance? Please enter a positive number for your answer. You are not required

Using the information from the table, what is the direct labor price variance? Please enter a positive number for your answer. You are not required to indicate whether the variance is favorable or unfavorable.

Budgeted direct materials (standard) (5 lbs @ $2/lb): $10/unit

Actual direct materials used: 500,000 lbs.

Actual units: 110,000 units

Actual cost of direct materials used: $1,250,000

Budgeted direct labor (standard) (2 hours @ $10/hour): $20/unit

Actual direct labor hours: 225,000 hours

Actual cost of direct labor: $2,700,000

Budgeted units: 100,000

Budgeted selling price: $50

Actual selling price: $65

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