6) The following materials standards have been established for a particular product:

Standard quantity per unit of output8 pounds

Standard price$18.00 per pound

The following data pertain to operations concerning the product for the last month:

Actual materials purchased6,500 pounds

Actual cost of materials purchased$125,125

Actual materials used in production5,500 pounds

Actual output750 units

6a What is the materials price variance for the month?

6b What is the materials quantity variance for the month?