Oxford Company has a materials standard of 2.1 pounds per unit of output. Each pound has a standard price of $10 per pound. During February, Oxford Company paid $55,990 for 5,090 pounds at $11 per pound, which were used to produce 2,650 units of product. What is the direct materials price variance? Multiple Choice $2,650 unfavorable $2,900 favorable $5,340 favorable $5,090 unfavorable