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Rider Company has the following direct material standards for its single product: \begin{tabular}{lll} & standard...

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Accounting

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Rider Company has the following direct material standards for its single product: \begin{tabular}{lll} & standard quantity & standard price \\ \hline direct materials & 23 pounds per unit & $0.46 per pound \end{tabular} During May, Rider Company produced 2,96e units. Rider had no beginning inventories of any type for May. During May, Rider Company purchased 93,800 pounds of direct materials at a cost of $9.37 per pound. At May 31, Rider's direct materials inventory consisted of 6,300 pounds of direct materials. Calculate Rider Company's direct material price variance for May. If the variance is favorable, place a minus sign in front of your answer (i.e., -566e). If the variance is unfavorable, simply enter your answer as a number (i.e., 509e)

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