(1A) The following data relate to direct materials costs for August: Standard costs 4,600 pounds at $5.60 Actual costs 4,700 pounds at $5.50 What is the direct materials price variance? $460 unfavorable $4,700 favorable $470 favorable $4,600 favorable

(1B) Using information from the previous question, what is the direct materials quantity variance? $560 unfavorable $4,700 unfavorable $550 unfavorable $4,600 unfavorable