Unionville Manufacturing Company (UMC) uses a standard cost system in which direct materials inventory is carried at standard cost. The company uses the following standards for one unit of product. Standard Quantity Standard Price or Rate Direct Materials 5 pounds $3.60 per pound Direct Labor 1.25 Hours $17.00 per Hour In November 2023, UMC purchased 125,000 pounds of direct material at a total cost of $475,000. The total factory wages for November were $364,000 and worked 28,000 direct labor hours. The company manufactured 22,000 units of product during the month using 108,000 pounds of direct materials. calculate direct material variance