Oxford Co. has a material standard of 2 pounds per unit of output. Each pound has a standard price of $18 per pound. During February, Oxford Co. paid $57,900 for 4,870 pounds, which were used to produce 2,470 units. What is the direct materials price variance? (Do not round your intermediate calculations.)

	$30,320 unfavorable
	$30,320 favorable
	$29,760 favorable
	$29,760 unfavorable