A company has established 5 pounds of Material J at $3 per pound as the standard for the material in its Product Z. The company has just produced 1,300 units of this product, using 6,700 pounds of Material J that cost $18,980.The direct materials price variance is (Do not round intermediate calculations):

$1,120 unfavorable.

$600 unfavorable.

$1,120 favorable.

$520 favorable.

$600 favorable.