A company uses the following standard costs to produce a single unit of output. During the latest month, the company purchased and used 67,000 pounds of direct materials at a price of $1.10 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $14,620 based on 1,700 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $6,400 and fixed manufacturing overhead incurred was $17,000. Based on this information, the direct materials quantity variance for the month was: Multiple Choice $2,700 favorable $13,400 unfavorable $13,400 favorable $2,700 unfavorable $2,000 favorable