Georgia, Inc. has collected the following data on the direct materials used in one of its products. . DM standard quantity: 4 lbs./unit of the product DM standard price: $1/lb Actual DM used: 150,000 lbs Actual number of units produced: 30,000 Total DM Cost Variance: $13,750 (unfavorable) The direct materials price variance is: $33,000 favorable. $30,000 unfavorable. $13,750 unfavorable. $16,250 favorable. $16,250 unfavorable