Standard cost data per unit of product for Jack Inc. is as follows: Direct material (2 gallons @ $2 per gallon) $ 4 Direct labor (1 hours ( $12 per hour) $ 12 During the period, the company produced and sold 25,000 units, incurring the following costs: Direct material 53, 000 gallons @ $ 1.9 per gallon Direct labor 25,500 hours @ $11.75 per hour The direct material price variance was: Multiple Choice O $5,000 favorable. O $5,000 unfavorable. O $5,300 favorable. O $5,300 unfavorable