A company has provided the following data concerning one of the products in its standard cost system.

Inputs

Standard Quantity

per unit of Output

Standard Price

Direct materials

8.0 ounces

$8.10/ounce

The company has reported the following actual results for the product for April:

Actual output

6,500

units

Raw materials purchased

62,350

ounces

Actual cost of raw materials purchased

$ 386,210

Raw materials used in production

52,020

ounces

A)Compute the materials price variance for April.

B)Compute the materials quantity variance for April.