Cincinnati Laboratories makes and sells a lawn fertilizer called Fastgro. The company has developed standard costs for one bag of Fastgro as follows: Standard Standard Cost Quantity per Bag Direct material. 20 pounds $8.00 Direct labor... 0.1 hours $1.10 Variable overhead 0.1 hours $0.40 The company had no beginning inventories of any kind on Jan. 1. Variable overhead is applied to production on the basis of standard direct labor-hours. During January, the following activity was recorded by the company: Production of Fastgro: 4,000 bags Direct materials purchased: 85,000 pounds at a cost of $32,300 Direct labor worked: 390 hours at a cost of $4,875 Variable overhead incurred: $1,475 Inventory of direct materials on Jan. 31: 3,000 pounds The materials price variance for January is: $1,640 F $1,640 U $1.700 F $1,300 U The materials quantity variance for January is: $800 U $300 U $300 F $750 F