Manter Corporation manufactures and sells a single product. The company uses units as the measure of activity In its budgets and performance reports. During June, the company budgeted for 6,900 units, but its actual level of activity was 6,940 units. The company has provided the following data concerning the formulas used in its budgeting and its actual results for June: Data used in budgeting: Fixed element Variable element per month per unit Revenue $ 0 $ 32.10 Direct labor $ $ 5.00 Direct materials a 13.60 Manufacturing overhead 31, 500 1.20 Selling and administrative expenses 23, 700 0.70 Total expenses $ 55, 200 $ 20.50 Actual results for June: Revenue $ 219, 604 Direct labor $ 34,990 Direct materials $ 94, 364 Manufacturing overhead $ 39, 668 Selling and administrative expenses $ 29, 888 The spending variance for direct materials In June would be closest to: Multiple Choice O $524 F O $20 F O $20 U O $524 U