A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor Manufacturing overhead 7 pounds at $0.90 per pound 0.4 hour at $10.00 per hour 0.4 hour at $4.40 per hour - - - $6.30 $4.00 $1.76 During the latest month, the company purchased and used 66,000 pounds of direct materials at a price of $1.10 per pound to produce 10,000minits of output. Direct labor costs for the month totaled $37,056 based on 3,860 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $13,600 and fixed manufacturing overhead incurred was $20,000. Based on this information, the total direct materials cost variance for the month was: During the latest month, the company purchased and used 66,000 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 $37,056 based on 3,860 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $13,600 and fixed manufacturing overhead incurred was $20,000. Based on this information, the total direct materials cost variance for the month was: Multiple Choice o $9,600 favegable o $13,200 unfavorable o $3,600 favorable o $9.600 unfavorable o $13,200 favorable