Oxford Co. has a material standard of 2.1 pounds per unit of output. Each pound has a standard price of $10 per pound. During February, Oxford Co. paid $57,220 for 4,840 pounds, which were used to produce 2,400 units. What is the direct materials price variance?

$6,820 unfavorable

$8,820 unfavorable

$8,820 favorable

$6,820 favorable