Joven Inc. produces plastic bottles. Production of 16-ounce bottles has a standard unit quantity of 0.50 ounce of plastic per bottle. During the month of June, 360,000 bottles were produced using 185,000 ounces of plastic. The actual cost of plastic was $0.045 per ounce, and the standard price was $0.048 per ounce. There is no beginning or ending inventories of plastic.

Required:
Calculate the materials price and usage variances using the columnar and formula approaches.