The volume of the cube is 14 cubed, which is 2744 cubic centimeters. The largest sphere carved from this cube will have a diameter equal to the side of the cube, making its radius 7 centimeters. The volume of this sphere is (4 divided by 3) times pi times r cubed, which calculates to (4 divided by 3) times (22 divided by 7) times 343, equaling approximately 4312 divided by 3 or roughly 1437.3 cubic centimeters. The wasted material is the difference between the cube's volume and the sphere's volume, which is 2744 minus 1437.3, resulting in approximately 1306.7 cubic centimeters, making the closest option 1306.