Farrar Industries reported the following results from its most recent quarter when it produced 6,100 units of finished product Actual direct material used and purchased Actual direct material cost per pound Standard direct material cost per pound Standard direct material quantity per unit 2.5 pounds per unit What is Farrar's direct material price variance? 51,525.00 favorable 53,812.50 unfavorable $3.937.50 unfavorable $3.937.50 favorable What is Farrar's direct material quantity variance? O $2,750 favorable O $2,750 unfavorable O $2,875 unfavorable O $2,875 favorable