ABC Company manufactures a single product and has set the following standards to produce one unit of this product: standard quantity standard price direct materials 7 pounds $12 per pound direct labor 5 hours $20 per hour During June, ABC produced 7,000 units using a total of 29,000 direct labor hours. ABC had no beginning inventories of any type for June. During June, ABC purchased 61,000 pounds of direct materials at a total cost of $683,200. At June 30, ABC had 8,000 pounds of direct materials in its inventory. The total cost of direct labor for ABC Company during June was $672,800. Calculate the direct material quantity variance for June. If the variance is favorable, place a minus sign in front of your answer (i.e., -5000). If the variance is unfavorable, simply enter your answer as a number (i.e., 5000)