Fletcher Company collected the following data regarding production of one of its products. Compute the total direct materials variance. Direct materials standard (1 pounds @ $4/pound) Actual direct materials used Actual finished units produced Actual cost of direct materials used $ 4 per finished unit 34,000 pounds 30,000 units $123,420 Multiple Choice $16,000 favorable $3.420 unfavorable $12.580 favorable $16,000 unfavorable $3.420 favorable.