Kennedy Corporation makes a product with the following standard costs: Standard Quantity or Hours Standard Price or Rate Standard Cost per Unit Direct materials Direct labor Variable overhead 8.2 pounds $7.00 per pound 0.4 hours 0.4 hours $20.00 per hour $2.00 per hour $57.40 $8.00 $0.80 The company budgeted for production of 2,400 units in June, but actual production was 2,500 units. The company used 19,850 pounds of direct material and 980 direct labor-hours to produce this output. The company purchased 22,000 pounds of the direct material at $7.51 per pound. The actual direct labor rate was $19.20 per hour and the actual variable overhead rate was $1.80 per hour. The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased. The materials price variance for June is: Oa. $11,220.00 O b. $10,123.50 c. $23,602.86 O d. $21,296.21