Sanford Ltd. produces a product with the following standard cost card: Direct materials (22 kg) Direct labour (7 hours) Variable overhead (7 hours) Fixed overhead (7 hours) The fixed overhead rate is based on a standard monthly volume of 15609 units. $51.92 84.00 21.00 35.00 The actual results for the month of July 20x5 are as follows: Direct materials purchased and used (382046 kg) Direct labour (93,000 hours) Variable overhead Fixed overhead Units produced and sold $608726 1,023,000 320,000 580,000 15,500 units What is Sanford's direct materials price variance for July 20x5? Note: a negative number represents an unfavourable variance and a positive number represents a favourable variance. Select one: O a. $263272 O b. $292903 O c. $-292903 O d. $201693