Computing materials quantity and price variances. The standard materials cost of producing 1 pound of Wood Shine is as follows:

Compute the materials price variances and the materials quantity variances for March 19X1. Show whether the variances are favorable or unfavorable.

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8 ounces of Deepglo at 12 cents per ounce 8 ounces of Preservo at 30 cents per ounce Total $1.02 2.55 $3.57 During March 19X1, 4,000 pounds of Wood Shine were produced. The actual materials costs were as follows: 32,480 ounces of Deepglo at 12 32,160 ounces of Preservo at 30 Total cents per ounce cents per ounce $ 4,060.00 9,808.80 $13,868.80