Majer Corporation makes a product with the following standard costs:

	Standard Quantity or Hours		Standard Price or Rate		Standard Cost Per Unit
Direct materials	2.0	ounces	$ 5.00	per ounce	$ 10.00
Direct labor	0.7	hours	$ 11.00	per hour	$ 7.70
Variable overhead	0.7	hours	$ 3.50	per hour	$ 2.45

The company reported the following results concerning this product in February.

Originally budgeted output	5,600	units
Actual output	5,400	units
Raw materials used in production	8,400	ounces
Actual direct labor-hours	3,980	hours
Purchases of raw materials	10,000	ounces
Actual price of raw materials	$ 4.75	per ounce
Actual direct labor rate	$ 11.70	per hour
Actual variable overhead rate	$ 3.95	per hour

The company applies variable overhead on the basis of direct labor-hours. The direct materials purchases variance is computed when the materials are purchased.

The materials price variance for February is: