The following materials standards have been established for a particular product: Standard quantity per unit of output Standard price 4.4 pounds $13.20 per pound The following data pertain to operations concerning the product for the last month: Actual materials purchased Actual cost of materials purchased Actual materials used in production Actual output 4,800 pounds $62,880 4,300 pounds 700 units The direct materials purchases variance is computed when the materials are purchased. What is the materials price variance for the month