A company uses the following standard costs to produce a single unit of output. Direct materials 7 pounds at $0.70 per pound =$4.90 Direct labor 0.3 hour at $9.00 per hour =$2.70 Manufacturing overhead 0.3 hour at $3.80 per hour =$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: $8,100 unfavorable $2,800 favorable $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 7 pounds at $0.70 per pound =$4.90 Direct labor 0.3 hour at $9.00 per hour =$2.70 Manufacturing overhead 0.3 hour at $3.80 per hour =$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: $8,100 unfavorable $2,800 favorable $3,000 favorable $19,800 unfavorable $2,800 unfavorable