Igloo Electronics makes cell phones under contract to a Chaebol, which is the Korean term for a conglomerate. Igloo began work on a new contract in January. During January, Igloo started 150,000 units into production, completing and shipping 145,000 phones by the end of the month. Igloo estimates the remaining 5,000 units to be 30% complete with respect to conversion costs.
Igloo is primarily an assembler because the Chaebol 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 $2,270,750 on conversion costs during January.
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 January.