The standard quantity of materials for a product was 49 lbs per unit at a standard price of $20/lb. The actual price per pound of materials was $14, and the actual quantity used was 57 pounds. Which of the following is true? Question 31 options:

A. The quantity variance is $112 unfavorable.

B. The price variance is $274 unfavorable.

C. The quantity variance is $294 favorable.

D. The price variance is $342 favorable.