A product incorporates two materials, A and B. The standards are A: Price £0.50 per kilo Usage 4 kilos per unit B: Price £1.80 per kilo Usage 1.5 kilos per unit During the month of December, 5,000 units are manufactured, the actual costs and quantities being A: Cost £10,296 Quantity 19,800 kilos B: Cost £13,416 Quantity 7,800 kilos Required:

Calculate the material price and usage variances.