Question: Nuperk Industries uses a standard cost system. For August, the company produced 17,520 units. The following information is available for the month. (Round answers to the nearest dollar). Standards: - Material 6.5 pounds per unit @ $17.8 per pound Labor 3.3 hours per unit @ $20 per hour - - Actual: - Units Produced 17,520 Material purchased 114,100 pounds @ $17.65 58,100 direct labor hours @ $21.5 per hour - What is the material price variance (based on quantity purchased)?