Max Company has developed the following standards for one of its products. Direct materials: 15 pounds $16 per pound Direct labor: 4 hours $24 per hour Variable overhead: 4 hours $14 per hour The following activity occurred during the month of October: Materials purchased: 10,000 pounds costing $170,000 Materials used: 7,200 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 a. $50,000 F. b. $10,000 U. c. $10,000 F. d. $50,000 U