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For the year 2018, a company provides the following information: Amount 4,000 30,000 Description Budgeted output Budgeted raw materials to be used in pounds) Budgeted raw materials price per pound Budgeted labor rate per hour Budgeted labor hours $0.20 $15.00 2,000 Actual output Actual raw materials used in pounds) 4,200 32,000 Actual raw materials price per pound Actual labor rate per hour Actual labor hours $0.18 $14.50 2.050 Compute the direct materials price variance. a. The direct materials price variance is $600(Favorable) b. The direct materials price variance is $640(Unfavorable). c. The direct materials price variance is $640(Favorable) d. The direct materials price variance is $600(Unfavorable)