Raven Inc. manufactures 2,000 car tires per month. It had estimated that it would require 10,000 lbs. of rubber per month at the price of $3.50 per lb. to manufacture 2,000 tires. In June, it produced 2,000 tires but it required 11,000 lbs. of rubber and its price was $3.25 per lb. What is the direct material price variance for Raven Inc.
