Mangold Company has developed the following standards for one of its products.

Direct materials:

Direct labor:

Variable overhead:

$10$ pounds $$$$12$ per pound

$4$ hours $$$$20$ per hour

$5$ hours $$$$10$ per hour

The following activity occurred during the month of October:

Materials purchased:

$10,000$ pounds costing $$150,000$

Materials used:

$6,000$ pounds

Units produced:

$500$ units

Direct labor:

$2,300$ hours at $$23\mathrm{.}60$ hour

The company records materials price variances at the time of purchase. The direct materials price variance is:

$541,000F$

$553,000U$

S$30\mathrm{.}000$T $$

SIIT$0015$