1. The following cost information is for Leslie Company. Actual results: Total cost of purchasing material: $58,000 Number of labor hours worked: 1,000 hours Number of material pounds used in production: 5,850 pounds Total labor cost: $48,000 Number of units produced: 300 units Number of material pounds purchased: 6,250 pounds Leslie Company has established the following standards: Price per pound of materials: $10.00 per pound Number of pounds of material to produce one unit: 20 pounds Standard labor rate: $50.00 per hour Number of labor hours to produce one unit: 3 hours Compute Leslie's Materials Quantity Variance. $1,500 Favorable $1,500 Unfavorable $2,500 Favorable $2,500 Unfavorable $4,500 Favorable O $4,500 Unfavorable