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Exeter has a material standard of 1 pound per unit of output. Each pound has a standard price of $27 per pound. During July, Exeter

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Exeter has a material standard of 1 pound per unit of output. Each pound has a standard price of $27 per pound. During July, Exeter paid $137,000 for 4, 990 pounds, which it used to produce 4, 760 units. What is the direct materials price variance? (Do not round your intermediate calculations) $8, 480 unfavorable O $9, 850 unfavorable $1, 370 favorable $2, 270 unfavorable

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