Budgeted quantity Budgeted price Direct materials 0.20 pounds $25 per pound Direct labor 0.10 hours $15 per hour During July, SII produced and sold 10,000 containers using 2,200 pounds of direct materials at an average cost per pound of $24 and 1,050 direct manufacturing labor hours at an average wage of $14.75 per hour. July's direct material price variance is: Question 4 options: $2,800 favorable $2,200 favorable $5,000 unfavorable $7,500 unfavorable