Hushovd Iron Works has collected the following data for its Thunderbolt product line:

Direct materials standard 10 pounds per unit

Standard Direct Materials Cost $0.75 per pound

The actual material purchased cost $0.85 per pound.

Actual direct materials purchased 40,000 pounds

Actual Quantity (AQ) of Direct Materials Used (AQU) 35,000 lbs.

Actual finished goods produced 4,500 units

What is the direct material price variance?