Fletcher Company collected the following data regarding production of one of its products. Compute the direct materials price variance. 
Definitions:
Controlled Setting
A controlled setting is an environment where variables are manipulated or held constant to examine their effect on outcomes in an experimental study.
Confounding Factors
Variables that interfere with the clarity of the relationship between the independent and dependent variables in a study.
Confidentiality
The ethical principle or legal right that a physician or other healthcare provider will hold secret all information relating to a patient, unless the patient gives consent permitting disclosure.
Data
Factual information used as a basis for reasoning, discussion, or calculation, often collected through observation or research.
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