Syrup Traps, Inc. manufactures professional grade waffle irons. The standard direct material unit cost for its most popular waffle iron is $48 per waffle iron. The standard input ratio for direct material is 2.4 ounces per waffle iron. In a recent month, 5, 100 ounces of direct material were used in the production of 2,040 waffle irons resulting in a favorable total direct material of $6,120. The actual cost of direct material purchased during the month was $90,000 Which of the following statements is incorrect with regard to the direct material variances calculated for the above data? O A. The net decrase in the company's raw material inventory during the period was 100 ounces OB. The actual price paid per ounce of direct material was $2 less than the standard price per ounce of direct material OC. Based on the DM quantity variance, it is likely that the DM price variance resulted from the purchase of substandard direct material O D . The direct material price variance is $10,200 favorable O E. The direct material quantity variance is $4,080 unfavorable