Iron Inc. manufactures fertilizers by mixing two chemicals, A and B. The standard cost information for 1 bag of fertilizer is given as follows: Material A 3lb. @ $7 per pound Material B 7lb. @ $5 per pound For 2012, the firm produced 1,890 bags of fertilizer. It used 7,000 pounds of material A and 13,000 pounds of material B. The actual price of both A and B was $4.50 per pound. Required: Calculate the material mix variance of the 2012 production. Denote a favorable variance with a positive number and unfavorable variance with a negative number.