Assume the following information appears in the standard cost card for a company that makes only one product: Standard Quantity Standard Price or Standard or Hours Rate Cost per Direct materials 5 pounds $ 55.00 11.00 pound $ Direct labor 2 hours per hour $34.00 17.00 Variable manufacturing overhead 2 hours $3.00 per hour $6.00 During the most recent period, the following additional information was available: 20,000 pounds of material was purchased at a cost of $10.50 per pound. All of the material that was purchased was used to produce 3,900 units. 8,000 direct labor-hours were recorded at a total cost of $132,000. What is the direct materials spending variance?