Marigold Company has developed the following standards for one of its products: Direct materials: 10 pounds * $12 per pound Direct labor: 4 hours $ 20 per hour Variable overhead: 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 $23.60/hour The company records materials price variances at the time of purchase. The direct materials price variance is