Jackson Industries uses a standard cost system in which direct materials inventory is carried at standard cost. Jackson has established the following standards for one unit of product.

	Standard Quantity	Standard Price or Rate	Standard Cost
Direct materials	6 pounds	$3.50 per pound	$21.00
Direct labor	2.00 hours	$7.00 per hour	$14.00

During May, Jackson purchased 123,000 pounds of direct material at a total cost of $470,000. The total factory wages for May were $368,000, 90 percent of which were for direct labor. Jackson manufactured 22,000 units of product during May using 113,000 pounds of direct material and 35,000 direct labor-hours. The price variance for the direct material acquired by Jackson Industries during May is:

$36,100 Favorable

$39,500 Unfavorable

$42,500 Favorable

$36,100 Unfavorable