A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor Manufacturing overhead 5 pounds at $0.9 per pound 0.30 hour at $10.00 per hour 0.30 hour at $4.60 per hour = $4.50 $3.00 $1.38 During the latest month, the company purchased and used 47,000 pounds of direct materials at a price of $1.20 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $27,645 based on 2,850 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $9,800 and fixed manufacturing overhead incurred was $14,000. Based on this information, the direct materials quantity variance for the month was: Multiple Choice $2,700 favorable $14,100 unfavorable $14,100 favorable