The standard materials cost to produce 1 unit of Product R is 5 pounds of material at a standard price of $55 per pound. In manufacturing 6,300 units, 29,300 pounds of material were used at a cost of $56 per pound. What is the direct materials price variance? Multiple Choice $29,300 unfavorable. $29,300 favorable. $121,000 unfavorable $121,000 favorable. $29,300 unfavorable. $29,300 favorable. $121,000 unfavorable. $121,000 favorable. $91,700 favorable