Materials and labor variances. Mason, Inc., produces backpacks. Recently established standard costs are as follows: materials, 10 pieces per unit at $.50 per piece;

labor, 1 .50 hours per unit at $4.50 per hour. In November, 1 16,000 pieces of material were purchased for $59,000. These 1 16,000 pieces of material were used in producing 10,000 units of finished product. Labor costs were $75,500 for 17,000 hours worked.

a. Compute the materials variance.

b. Compute the labor variance.