Mini-Truck Co. produces toy trucks. The company has the following standards for production:

	Standards
	DM required for one unit	Cost per unit of input
Direct materials	4 units	$12.50 per unit
Direct labour	1.4 hours	$9.50 per hour

Actual production for the period is 5,000 units, and the following information provided:

Direct Materials:

Materials costs	$299,000
Input purchased and used	23,000
Actual price per input	$13.00

What is the direct materials rate variance?