ABC, Inc., manufactures a single product. The standard cost sheet for this product reflects the following:

Direct Material	10 per unit
Standard material cost	$0.85 per ounce of material

In the last quarter, the company manufactured 3045 units of this product. Below is information related to the preparation of these 3045 units:

Total material used in manufacturing	33495 ounces
Actual material cost	$0.68 per hour

REQUIRED: Determine the PRICE variance of materials. If the variance is favorable, the answer should be positive (e.g., 100), and if it is unfavorable, the answer should be negative (e.g., -100). YOU CAN USE TWO DECIMALS IN YOUR ANSWER.

Answer:______________________