Bryan Company employs a standard cost system in which direct materials inventory is carried at standard cost. Bryan has established the following standards for the prime costs of one unit of product:

	Standard Quantity	Standard Price	Standard Cost
Direct materials	6.0 grams	$3.50/gram	$21.00
Direct labour	1.3 hours	$11.00/hour	14.30
			$35.30

During March, Bryan purchased 170,000 grams of direct material at a total cost of $585,750. The total factory wages for March were $400,000, 90 percent of which were for direct labour. Bryan manufactured 25,000 units of product during March using 151,000 grams of direct material and 32,000 direct labour hours.

The price variance for the direct material acquired by the company during March is:

		$7,550 favourable.
		$7,550 unfavourable.
		$8,250 unfavourable.
		$8,250 favourable.