A company uses the following standard costs to produce a single unit of output. Direct materials Direct labor Manufacturing overhead 7 pounds at $0.80 per pound 0.2 hour at $10.00 per hour 0.2 hour at $3.20 per hour = = $ 5.60 = $ 2.00 $ 0.64 During the latest month, the company purchased and used 66,000 pounds of direct materials at a price of $1.00 per pound to produce 10,000 units of output. Direct labor costs for the month totaled $17,860 based on 1,880 direct labor hours worked. Variable manufacturing overhead costs incurred totaled $3,400 and fixed manufacturing overhead incurred was $13,000. Based on this information, the total direct materials variance for the month was: