A corporation produces a product that has a standard materials cost of three pounds of raw materials at $5.00 per pound. During April, 7,500 pounds of raw materials costing $5.40 per pound were used in making 2,900 units.

Calculate the direct materials quantity variance.

Calculate the direct materials price variance.

Note: If the variance is Unfavorable, type a minus sign “-” in front of your answer. For example: if variance is $1,000 Unfavorable, type
“-1,000” (no spaces). Do not include any decimal places; do not include the $ sign.