Firecracker Company has developed the following standards for one of its products.

Direct materials:

15 pounds $16 per pound

Direct labor:

4 hours $24 per hour

Variable manufacturing overhead:

4 hours $14 per hour

The following activity occurred during the month of October:

Materials purchased: 10,000 pounds costing $170,000

Materials used: 7,200 pounds

Units produced: 500 units

Direct labor: 2,300 hours at $23.60/hour

Actual variable manufacturing overhead: $30,000

The company records materials price variances at the time of purchase.

The direct materials price variance is

a. $50,000 favorable.

b. $50,000 unfavorable.

c. $10,000 favorable.

d. $10,000 unfavorable