Final answer:
Without the standard cost, actual cost, and quantity of materials used, it is not possible to calculate the materials price variance for Sheffield Company.
Step-by-step explanation:
The question provided does not contain enough context or data to calculate the materials price variance for Sheffield Company for the month of July. In order to calculate the materials price variance, we would need to know the standard cost of materials per unit, the actual cost of materials used, and the total quantity of materials used. A materials price variance is determined by the formula:
(Materials Price Variance) = (Standard Cost per Unit - Actual Cost per Unit) × Actual Quantity Used. A positive result indicates a favorable variance, and a negative result indicates an unfavorable variance.