The following information is presented for the Marathon Manufacturing Company. Direct labor rate standard is $11.55. Direct labor efficiency standard is 2.5 hours per unit. Budgeted production is 1,200 units. Production required 2,910 direct labor hours at a cost of $33,174. Actual production is 1,150 units. What is the direct labor price variance?

a) $172.50 Favorable b) $180.00 Favorable c) $450.00 Favorable d) $436.50 Favorable