If 56,000 pounds of direct material was purchased for $420,000, each unit requires 5 pounds of direct material at a standard cost of $7.80 per pound, and direct material used to produce 10,900 units was 53,500 pounds, the direct material price variance is: $16,050 F. $16,050 U. $16,800 F. $16,800 U. None of the answers is correct