The Cheers Company makes mugs for which the following standards have been developed: Standard Inputs Expected Standard Price Expected Direct Materials Direct Labor For Each Unit of Output 5 ounces 1.5 hours Per Unit of Input $2 per ounce $8 per hour Production of 400 mugs was expected in July, but 440 mugs were actually completed. Direct materials purchased and used were 2,100 ounces at an actual price of $2.30 per ounce. Direct labor cost for the month was $5,310, and the actual pay per hour was $9.00. What is the direct material price variance for July? $400 Favorable $400 Unfavorable $630 Favorable $630 Unfavorable