A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor Manufacturing overhead 7 pounds at $0.70 per pound = 0.3 hour at $9.00 per hour = 0.3 hour at $3.80 per hour = $4.90 $2.70 $1.14 During the latest month, the company purchased and used 66,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $24,424 based on 2,840 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $8,400 and fixed manufacturing overhead incurred was $11,000. Based on this information, the direct materials price variance for the month was: Multiple Choice $8,100 unfavorable $2,800 favorable iniil $3,000 favorable $19,800 unfavorable $2,800 unfavorable A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor Manufacturing overhead 7 pounds at $1.00 per pound = 0.30 hour at $8.00 per hour = 0.30 hour at $4.30 per hour = $7.00 $2.40 $1.29 During the latest month, the company purchased and used 66,000 pounds of direct materials at a price of $1.30 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $20,672 based 0 2,720 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $9,900 and fixed manufacturing overhead incurred was $18,000. Based on this information, the direct materials quantity variance for the month was: Multiple Choice $4,000 favorable $19,800 unfavorable $19,800 favorable $4,000 unfavorable $3,000 favorable