Parallel Enterprises has collected the following data on one of its products. During the period the company produced 25,000 units. The direct materials price variance is: Direct materials standard (7 pounds @ $2.50/pound) Actual cost of materials purchased Actual direct materials purchased and used $17.50 per finished unit $ 423,500 160,000 pounds Multiple Choice $14,000 unfavorable. $37,500 unfavorable. $37,500 favorable $23,500 unfavorable