Exeter has a material standard of 1 pound per unit of output. Each pound has a standard price of $25 per pound. During July, Exeter paid $138,000 for 5,040 pounds, which it used to produce 4,780 units. What is the direct materials price variance? (Do not round your intermediate calculations.)

a) $29,600 unfavorable

b) $12,000 unfavorable

c) $11,100 favorable

d) $18,500 unfavorable