Question 13 Oliver Enterprises has collected the following data for one of its products: Direct materials standard is $0.53 per pound Actual Quantity Direct Materials Purchased: 39,000 pounds Actual Quantity Direct Materials Used: 34,000 pounds Actual Price paid per pound: $0.57 How much is the direct materials price variance? $1,560 favorable $1,560 unfavorable $1,360 favorable $1,360 unfavorable