For the year 2018, a company provides the following information: amount 4,000 30,000 description budgeted output budgeted raw materials to be used in pounds) budgeted raw materials price per pound budgeted labor rate per hour budgeted labor hours $0.20 $15.00 2,000 actual output actual raw materials used in pounds) 4,200 32,000 actual raw materials price per pound actual labor rate per hour actual labor hours $0.18 $14.50 2.050 compute the direct materials price variance. a. the direct materials price variance is $600(favorable) b. the direct materials price variance is $640(unfavorable). c. the direct materials price variance is $640(favorable) d. the direct materials price variance is $600(unfavorable)