ACCA · Question 27 · Standard Costing

A smartphone assembler set an original standard price for microchips at $5.00 per unit. Due to a global shortage, the market price unavoidably rose, and management revised the standard price retrospectively to $5.50 per unit.
During the period, 6,000 microchips were purchased and used.

Calculate the material price planning variance. State your answer as a number followed by 'A' or 'F' (e.g., 3000 A).