Kenosha Industries, Inc., (KII) developed the following standard costs for direct material and direct labor for one of their major products, the 10-gallon plastic container. Standard Quantity Standard Price Direct materials 0.10 pounds $30 per pound Direct labor 0.05 hours $15 per hour During August, Kll produced and sold 10,000 containers using 980 pounds of direct materials at an average cost per pound of $32 and 500 direct labor hours at an average wage of $15.25 per hour. What is August's direct material price variance? $1,960 unfavorable None of the above $600 favorable $1,360 unfavorable