A company provided the following direct materials cost information. Compute the total direct materials cost variance. 
Definitions:
Market Price
This term refers to the actual selling price of goods or services in the marketplace at any given time.
Future Net Earnings
The projected amount of money that a company is expected to earn in the future after all expenses and taxes have been deducted.
Business Asset
Resources owned by a company that have economic value and can contribute to future profits.
Pure Interest Yield
The portion of interest or return on an investment that represents the compensation for the time value of money, excluding any other types of returns or costs.
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