The company manufactures a single product that requires two units of direct material per finished unit. The 35,000 units of direct material in inventory were purchased in November for $105,000. (assume no beginning inventory). In November, the company produced 12,000 finished units. At the 12,000 finished production level, the standard cost for direct material totaled $60,000. Also the unfavorable quantity variance was $2,500.

Compute the company's direct material price variance.