A company reports the following for one of its products.

Direct materials standard $(4$ pounds @ $$2$ per pourid$)$

Actual units produced

Actual cost of direct materials used

$$8$ per unit

$$50,000$ units

$$540,000$

Compute the total direct materials variance and identify it as favorable or

unfavorable. $($Indicate the effect of the variance by selecting favorable,

unfavorable, or no variance.$)$