Chapter 10 Charles Company uses a standard cost system. The following information relates to product 123: Cost standards for product no. 323: Direct material 2 pounds at $3.50 per pound $ 7.00 Actual results: Units produced 23,680 units Direct material purchased 52,000 pounds at $3.25 per pound $169,000 Direct material used 48,400 pounds at $3.25 per pound $157,300 The direct-material price variance is: O $ 12,600 Favorable O $3,240 Unfavorable O $ 13,000 Favorable O $8,460 Favorable