James Corp estimated the following standard costs for one of their major products, the 30-gallon heavy-duty plastic container.

Budgeted quantity

Budgeted price

Direct materials

0.30 pounds

$20 per pound

During July, GII produced and sold 3,000 containers using 1,000 pounds of direct materials at an average cost per pound of $19. July's direct material flexible-budget variance is:

Group of answer choices

$1,000 unfavorable

$0

$2,000 favorable

$2,500 unfavorable

Referring to the previous question, what is James Corp's direct material price variance:

Group of answer choices

$2,000 unfavorable

$1,100 unfavorable

$1,000 unfavorable

$1,000 favorable