Oceanview Boat Covers, which uses a standard cost system, manufactured 15,000 cloth covers during 2017, using 130,000 square feet of extruded cotton purchased at $2.10 per square foot. Production required 710 direct labor hours that cost $13.00 per hour. The direct materials standard was thirteen square feet of vinyl per cover, at a standard cost of $2.05 per square foot. The labor standard was 0.040 direct labor hour per cover, at a standard cost of $16.25 per hour. Compute the cost variance for direct materials. $6,500 unfavorable 5422,500 favorable 59,750 unfavorable $7,150 favorable