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A new pharmaceutical drug calls for 4 . 5 ounces of compound AN 7 - X 1 per batch of 2 5 0 tablets. AN

A new pharmaceutical drug calls for 4.5 ounces of compound AN7-X1 per batch of 250 tablets. AN7-X1 has a standard price of $2 per ounce. An initial inventory of 8,000 ounces of AN7-X1 is purchased for $17,200. The firm produces 1,000 batches of the new drug and uses 4,600 ounces of AN7-X1. All variances are calculated as soon as possible.
Required:
A. Calculate the price and quantity variances for AN7-X1

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