Each pair of sunglasses by Maui Jim requires the costs shown below. In the past month, the company produced 1,200 pairs of sunglasses and incurred total costs of $50,000. Calculate the cost variance for the month. Cost Standard Price Standard Quantity per Unit Direct Materials $7.50 per oz 3 oz Direct Labor $11.00 per hr. 1 hr Factory Overhead $5.00 per hr. 2 hrs.