A company developed the following per-unit standards for its product: 5 kilograms of direct materials at $3.00 per kilogram. Last month, 1,000 kilograms of direct materials were purchased for $2940. Also last month, 740 kilograms of direct materials were used to produce 140 units. What was the direct materials quantity variance for last month? O $120 unfavourable O $120 favourable $700 unfavourable O $700 favourable