Assume a company uses standard costs to control the materials in its made-to-order sunglasses. The standards call for four ounces of material for each pair of lenses. The standard cost per ounce of material is $12. During February, the Malibu location produced 6,500 pairs of sunglasses and used 22,000 ounces of materials. The actual cost of the materials during February was $12.50 per ounce, and there were no beginning or ending inventories.

Calculate the materials quantity variance.

Calculate the materials price variance.

Calculate the flexible budget materials cost

Note: If the variance is Unfavorable, type a minus sign “-” in front of your answer. For example: if variance is $1,000 Unfavorable, type “-1,000” (no spaces). Do not include any decimal places; do not include the $ sign.