Igloo Electronics makes cell phones under contract to a Chaebol. Continuing work on an existing contact, Igloo began February with 5,000 units in process that were 30% complete. During February, Igloo started an additional 145,000 units into production, completing and shipping a total of 148,000 phones by the end of the month. Igloo estimates the remaining 2,000 units to be 20% complete with respect to conversion costs.
Igloo is primarily an assembler, for the contractor supplies the casing, screens, circuit boards, and other needed materials. Thus, Igloo accumulates all costs into a single-cost pool—conversion costs. Igloo actually spent $2,245,000 on conversion costs during February.
Igloo uses standard process costing to value its inventories. Specifically, it values each equivalent unit of work (for conversion) at $15.

Required:
Compute Igloo’s conversion cost variance for February.