Blue Lite manufactures decorative weather vanes that have a standard materials cost of two pounds of raw materials at 2 dollars per pound. During November, 500 pounds of raw materials costing 4 dollars per pound were used in making 450 weather vanes. The materials price and quantity variances are:

Material Price Variance 1,000 Unfavorable, Material Quantity variance 800 Favorable

Material Price Variance 1,000 Favorable, Material Quantity variance 800 Unfavorable

Material Price Variance 500 Favorable, Material Quantity variance 400 Unfavorable

Material Price Variance 500 Unfavorable, Material Quantity variance 400 Favorable