Milar Corporation makes a product with the following standard costs: Direct materials Direct labor Variable overhead Standard Quantity or Hours 2.0 pounds 1.4 hours 1.4 hours Standard Price or Rate $ 7.00 per pound $10.00 per hour $ 4.00 per hour In January the company produced 4,800 units using 10,320 pounds of the direct material and 2,300 direct labor-hours. During the month, the company purchased 10,890 pounds of the direct material at a cost of $76,770. The actual direct labor cost was $38,242 and the actual variable overhead cost was $11,943. 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 January is: To 0 0 0 $400 F $540 U $540 F