A company's budgeted variable overheads for a period amounted to £24,000. During this period, the company spent £23,760 on variable overheads.

The company's level of production was expected to require 12,000 labour hours but the actual amount of labour hours used was only 10,800 hours.

What was the variable overhead expenditure variance for the period?

Calculate your answer to the nearest whole £ and enter it in the blank space provided.

Indicate an adverse variance (if appropriate) by placing a minus sign in front of the value?