The following data relates to QA firm:
Cost standards:
Actual results:
7 800 units were produced
Calculate the direct material price variance,based on the quantity of materials purchased. 
Definitions:
Derivative Suit
A lawsuit brought by a shareholder on behalf of a corporation against a third party, often the corporation's executives or directors, for wrongs committed against the corporation.
Corporate Right
The legal entitlements and privileges granted to corporations, including the ability to enter contracts, own assets, and sue or be sued.
Quorum
The smallest number of participants needed in a meeting to validate its proceedings.
Shareholders' Meeting
An official gathering of the shareholders of a company to discuss the company's affairs, make decisions, and vote on corporate issues.
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