Garcia Industries uses a cost system that carries direct materials inventory at a standard cost. The controller has established these standards for the cost of one unit: Standard Quantity X Standard Price = Standard Cost Direct 5 pounds X $2.60 per pound = $13.00 Materials Direct Labor 1.25 hours X $12.00 per hour $15.00 Garcia Industries made 3,000 units in January and used 15,500 pounds of material to make these units. Garcia Industries paid $39,370 for the 15,500 pounds of material. What was the direct materials price variance for January? Q $3/0 favorable $7.800 favorable 370 unfavorable 13 370 unfavorable 15230 favorable $7 6DQualavorable ( $1.370.favcrable