The Hershey Company is an American multinational company and one of the largest chocolate manufacturers in the world. The Hershey candy bar is a favorite product Hershey's management has established the following standards.

Materials: $12$ ounces per unit at $60$c per ounce Labor: $2$ hours per unit at $$8$ per hour

During the month of December, the company produced $1,000$ units. Information for the month follows

Materials: $14,000$ ounces purchased and used at a total cost of $$7,700.$ Labor: $2,500$ hours worked at a total cost of $$20\mathrm{.}625$

The materials quantity variance is$.$

Material Price Variance $=($AP $-$SP$)*$ AQP AP $-$ actual price per unit of material SP $-$ standard price per unit of material AQP $-$ actual quantity of material purchased

Material Quantity Variance $=($AQU $-$ SQ$)*$ SP AQU $-$ actual quantity of material used SQ $-$ standard quantity of material for the actual level of production SP $=$ standard price per unit of material