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 $134,000 for 5,010 pounds, which it used to produce 4,730 units. What is the direct materials price variance? (Do not round your intermediate calculations.)

$7,850 favorable $23,600 unfavorable $15,750 unfavorable $8,750 unfavorable