The following data pertains to the month of October for ElmCo when production and sales were budgeted to be 5,000 units of P90. ElmCo budgeted: Sales Price: $60.00 each Contribution Margin: $25.00 each

In October the production and sales of P90 totaled 4,700 units. The actual results were:

Revenues 4,700 units yielding $316,520 Contribution Margin: 4,700 units yielding $110,450

Determine the sales price variance. Negative numbers indicate an unfavorable variance. (Round to the nearest $1.00)