Multiple Choice Question ABC Company has set the following standards for one unit of product Direct materials: 0.5 pounds $100 per pound; Direct labor: 1 hour $10.00 per hour. The company produced 35,000 units and had the following actual costs: Direct materials: 18,000 pounds at a total cost of $17,280; Direct labor: 36,000 hours at a total cost of $374,400. Compute the total direct materials variance. O $220 F 0200 O $720 O 52200