Peyroux Company manufactures tables with vinyl tops. The standard material cost per tabletop is $15.60 based on 6 square feet of vinyl at a cost of $2.60 per square foot. A production run of 1,000 tables in January required 6,400 square feet of vinyl at an actual cost of $2.16 per square foot. The material rate variance associated with the January production run is ____________

$440 favorable. $2,600 favorable. $2,640 favorable. $2,816 favorable. None of the above