A company uses the following standard costs to produce a single unit of output Direct materials Direct labor Manufacturing overhead 7 pounds at $1.20 per pound 0.3 hour at $9.00 per hour 0.3 hour at $3.50 per hour = - - $8.40 $2.70 $1.05 1:36.03 During the latest month, the company purchased and used 68,000 pounds of direct materials at a price of $1.40 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 $7,500 and fixed manufacturing overhead incurred was $16,000. Based on this information, the total direct materials cost variance for the month was: Multiple Choice O $11,200 unfavorable O $11,200 favorable $13,600 favorable $13,600 unfavorable $2.400 favorable