Question 1 (1 point) Johnson Co. makes organic non-GMO vegetable seed packets for the chef/gardener market. The standard material is 0.63 ounces per seed packet at a cost of $0.64 per ounce. Johnson Co. budgeted to make 65,000 seed packets but due to high demand, they ended up making 66,000 packets. They paid $42,000 for 60,000 ounces of seed and used all in production during the period. What is their material cost variance for this period? Enter a favorable variance is a positive number and an unfavorable variance as a negative number. Enter as a whole number, no commas and no dollar signs. Your Answer: 1