equired information Skip to question [The following information applies to the questions displayed below.] Preble Company manufactures one product. Its variable manufacturing overhead is applied to production based on direct labor-hours and its standard cost card per unit is as follows: Direct materials: 5 pounds at $10 per pound $ 50 Direct labor: 4 hours at $14 per hour 56 Variable overhead: 4 hours at $4 per hour 16 Total standard cost per unit $ 122 The planning budget for March was based on producing and selling 29,000 units. However, during March the company actually produced and sold 34,200 units and incurred the following costs: Purchased 180,000 pounds of raw materials at a cost of $9.50 per pound. All of this material was used in production. Direct laborers worked 74,000 hours at a rate of $15 per hour. Total variable manufacturing overhead for the month was $440,300. rev: 11_20_2017_QC_CS-109672 3. What is the materials price variance for March