The following information is presented for the Flowvalve Manufacturing Company.

• Direct material price standard is \($15\) per pound.

• Direct material quantity standard is 4 pound per finished unit.

• Budgeted production is 20,000 finished units.

• 6,000 pounds of direct material were purchased for $91,320.

• 4,650 pounds of direct material were used in production.

• 18,000 finished units of product were produced.

Required:

a. Determine the direct material price variance.

b. Determine the direct material quantity variance in dollars.