You are required to complete a performance report for the month of May 2020, for the Lion Daily, a regional magazine, given the following data: 550 Acual number of magazines produced and sold Budgeted number of magazines produced and sold Actual direct material costs Budgeted direct material costs 500 $115,500 $110,500 What is the total variance for direct material costs? Select one: O a. $5,000 unfavorable Ob, 50 unfavorable O c. $5,000 favorable O d. 50 favorable