The following materials standards have been established for a particular product: standard quantity per unit of output standard price 4.6 grams $15.05 per gram The following data pertain to operations concerning the produce for the last month: actual materials purchased actual cost of materials purchased 2,800 grams $42,000 actual materials used in production 2,400 grams actual output 500 units Calculate the materials quantity variance (MQV): $1,505 FAVORABLE (F) $1,505 UNFAVORABLE (U) $7,525 UNFAVORABLE (U) $6,020 FAVORABLE (F) $7,525 FAVORABLE (F) $6,020 UNFAVORABLE (U)