Company developed standard costs for direct material and direct labor. In 2020, Company estimated the following standard costs for one of their major products, the plastic container. Budgeted quantity Budgeted price Direct materials 0.25 pounds $30 per pound Direct labor 0.13 hours $16 per hour Actual During July, Company produced and sold 5,000 containers using 1,100 pounds of direct materials at an average cost per pound of $29and 600 direct manufacturing labor hours at an average wage of $15 Direct Material Efficiency variance is:

A. $5,500 Favorable

B. $5,500 Unfavorable

C. $4,500 Favorable

D. $4,500 Unfavorable