A company uses the following standard costs to produce a single unit of output. Direct materials 5 pounds at $1.10 per pound = $ 5.50 Direct labor 0.5 hour at $10.00 per hour = $ 5.00 Manufacturing overhead 0.5 hour at $4.10 per hour = $ 2.05 During the latest month, the company purchased and used 46,000 pounds of direct materials at a price of $1.30 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $47,142 based on 4,860 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $16,500 and fixed manufacturing overhead incurred was $14,000. Based on this information, the total direct materials cost variance for the month was: