Lucy Corporation purchased and used 70,000 board feet of lum…

Lucy Corporation purchased and used 70,000 board feet of lumber in production at a total cost of $857,500. Original production had been budgeted for 10,000 units with a standard materials quantity of 6 board feet per unit and a standard price of $12 per board foot. Actual production was 12,000 units.​The direct materials price variance is