A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor Manufacturing overhead 5 pounds at $0.80 per pound 0.3 hour at $8.00 per hour 0.3 hour at $4.40 per hour - - - $4.00 $2.40 $1.32 During the latest month, the company purchased and used 47,000 pounds of direct materials at a price of $110 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $21,098 based on 2,740 direct labor hours worked Variable manufacturing overhead costs incurred totaled $9.200 and fed manufacturing overhead incurred was $14,000. Bas on this information, the direct materials price variance for the month was: Multiple Choice O $7.200 unfavorable 57300 favorable