The following company information is available for January:

Direct materials used	4,000 feet @ $55 per foot
Standard costs for direct materials for January production	4,240 feet @ $53 per foot

The direct material quantity variance is:

	$12,720 favorable.
	$8,000 unfavorable.
	$4,720 favorable.
	$8,000 favorable.
	$12,720 unfavorable. .......................................................................

Five Rings, Inc, has collected the following data on one of its products:

Direct materials standard (3 lbs.@ $ 1/b.)	$3per finished unit
Total direct materials cost variance