Remi Bakery provides the following standard and actual costs for direct materials to produce 1,000 bags of cookies: Quantity per bag of cookies Price per lb. Standard 2.80 lbs. $4.50 Actual 2.50 lbs. $4.70 Calculate the direct material cost variance. Group of answer choices $500 unfavorable -$850 favorable -$500 favorable $850 unfavorable
