An accountant calculated the cost variances for March based on the following Information. If 40,000 units were produced and sold in March, what is the company's direct materials price variance? Direct materials standard cost Direct materials quantity standard Actual cost of materials purchased and used Actual quantity of materials purchased and used $4.32 per foot 4 feet per unit $ 4.40 per foot 158,000 feet Multiple Choice $ 12,640 favorable. $ 8,000 favorable. $ 12,640 unfavorable. $ 9,500 favorable. $ 8,000 unfavorable