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 @ $1.70/pound) $ 11.90 per finished unit

Actual cost of materials purchased $ 266,800

Actual direct materials purchased and used 144,000 pounds

$22,000 favorable.

$30,700 unfavorable.

$52,700 unfavorable.

$52,700 favorable.

$22,000 unfavorable.