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Neptune Pty Ltd makes and sells steel doors. Results for the year ended 30 December 2022 are provided below: Neptune Pty Ltd Year ended 31

Neptune Pty Ltd makes and sells steel doors. Results for the year ended 30 December 2022 are provided below:

Neptune Pty Ltd
Year ended 31 December 2022
Budget Actual
production volume (unit) 5,500 5,000
quantity of steel used (kg) 82,500 80,000
average purchase price of the steel used ($ per kg) 6.50 6.40

The steel input price variance reflects the marginal cost caused by the cost of purchasing steel being different to what was planned. What is the steel input price variance for Neptune for the year ended 30 December 2022?

[Enter a positive number to indicate a favourable variance and a negative number to indicate an unfavourable variance]

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