Acme Companys production budget for August is 17,800 units and includes the following component unit costs: direct materials, $8.00; direct labor, $10.00; variable overhead, $6.00. Budgeted fixed overhead is $35,000. Actual production in August was 19,368 units, actual unit component costs incurred during August include direct materials, $8.50; direct labor, $9.50; variable overhead, $7.50. Actual fixed overhead was $36,800, the standard direct material cost per unit consists of 10 pounds of raw material at $0.8 per pound. During August, 274,380 pounds of raw material were used that were purchased at $0.60 per pound.

Required:

Calculate the materials price variance and materials usage variance for August. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable.)