The following information is available for Munter Manufacturing Company. Direct materials price standard is $3.25 per pound. Direct materials quantity standard is six pounds per finished unit. Budgeted production is 25,000 finished units. 175,000 pounds of direct materials were purchased for $525,000. 175,000 pounds of direct materials were used in production. 25,600 finished units of product were produced. What is the direct materials price variance?

Group of answer choices

$350,000 Unfavorable

$43,750 Favorable

$43,750 Unfavorable

$350,000 Favorable