Global Company makes a product that is expected to use 2.2 pounds of material per unit of product. The material has a standard cost of $2 per pound. Global actually used 2.3 pounds of material per unit of product made in January. The actual cost of material was $1.95 per pound. Based on this information alone, the materials variances for the January production would be: Multiple Choice Unfavorable for price and favorable for usage. Favorable for price and unfavorable for usage. Favorable for price and favorable for usage. Unfavorable for price and unfavorable for usage