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

Direct material	12 per unit
Standard material cost	$0.72 per ounce of material

In the last quarter, the company manufactured 2,131 units of this product. Below is information related to the preparation of these 2131 units:

Total materials used in manufacturing	28129.2 ounces
Actual material cost	$0.58 per hour

REQUIRED: Determine the variation in PRICE of materials. If the variation is favorable the response must be positive (example 100) and if it is unfavorable the response must be negative (example -100). YOU MAY USE TWO DECIMALS IN YOUR ANSWER.

Answer: