Galaxy technologies corp. manufactures cell phones. during the year, 150,000 phones were manufactured. materials and labor standards for producing the phones are as follows: direct materials (2 pieces of plastic material @ $3.25) $6.50 direct labor (2 hours @ $10) 20.00 galaxy technologies corp. purchased and used 500,000 pieces of plastic material at $2.50 each, and its actual labor hours were 340,000 hours at a wage rate of $10.50. what is the materials price variance?
a. $112,500 f
b. $112,500 u
c. $375,000 u
d. $375,000 f