Pippin Incorporated has provided the following data concerning one of the products in its standard cost system. Variable manufacturing overhead is applied to products on the basis of direct labor-hours. 
The company has reported the following actual results for the product for June:
The raw materials price variance for the month is closest to:
Definitions:
Labor Efficiency Variance
The difference between the actual labor hours used and the standard hours expected for a level of output.
Direct Labor Standards
Refer to the pre-determined amount of labor time and labor cost that should be used for producing a unit of product or service.
Work in Process Inventory
The value of goods in various stages of production within a manufacturing company, not yet completed as finished goods.
Raw Materials Used
The total cost or value of all primary materials consumed in the production process over a specified period.
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