Cascade Inc. has provided the following information:

Standards:		Per unit
Direct materials	5.5 lbs @ $4.00/lb	$	22.00
Direct labor	1.0 hours @ $11.5/hour		11.50
Variable overhead	2.5 hours @ $10.5/hour		26.25
Fixed overhead			16.00
Total		$	75.75

Budgeted production = 4,780 units

Actual results
Direct materials	30,600	lbs	$	127,470
Direct labor	11,870	actual hours	$	154,600
Variable overhead			$	118,210
Fixed overhead			$	76,800
Units produced	5,200	units

Calculate the direct materials price variance