Exeter Company has a materials standard of 1 pound per unit of output. Each pound has a standard price of $26 per pound. During July, Exeter paid $66,696 for 2,520 pounds, which it used to produce 2,400 units of product. What is the direct materials price variance? Multiple Choice O $1,680 unfavorable $2,080 unfavorable $2,176 favorable $1,176 unfavorable

Exeter Company has a materlais standard of 1 pound per unit of output Each pound has a standard price of $26 per pound. Ouring July. Exeter paid $66.696 for 2,520 pounds, which it used to produce 2,400 units of product. What is the direct materlals price variance? Multiple Choice \$1680 unfavorable 52.080 untavorable $2.176 favoiable $1,176 untavorable