ABC company developed standard costs for direct material and direct labor for the master budget. In 2019, the company estimated the following standard costs for its product. Budgeted quantity Budgeted price Direct materials 2 pounds $2.30 per pound Direct labor 0.40 hours $15.00 per hour During January, the company produced and sold 1,000 units using 2,200 pounds of direct materials at an average cost per pound of $2.00 and 360 direct labor hours at an average wage of $15.15 per hour. The direct material efficiency variance during January is ________. Select one: a. $640 favorable b. $460 favorable c. $640 unfavorable d. $460 unfavorable