5. (20 pts.) A company makes wine glasses for which the following standards have been developed: Direct Materials Direct Labor Standard Inputs Expected For Each Unit of Output 5 ounces 1.5 hours Standard Price Expected Per Unit of Input $2 per ounce $8 per hour Production of 400 glasses was expected in July, but 440 were actually made. Direct materials purchased and used were 2,100 ounces at an actual price of $2.30 per ounce. Direct labor cost for the month was $5,310, and the actual pay per hour was $9.00. Calculate: a) The direct materials variances b) The direct labor variances