Acme Companys production budget for August is 19,500 units and includes the following component unit costs: direct materials, $8.00; direct labor, $12.00; variable overhead, $6.00. Budgeted fixed overhead is $52,000. Actual production in August was 21,450 units, actual unit component costs incurred during August include direct materials, $10.20; direct labor, $11.40; variable overhead, $7.20. Actual fixed overhead was $55,500, the standard direct material cost per unit consists of 10 pounds of raw material at $0.8 per pound. During August, 291,720 pounds of raw material were used that were purchased at $0.75 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.)