Cinturon Corporation produces high-quality leather belts. The company's plant in Boise uses a standard costing system and has set the following standards for materials and labor; During the first month of the year, the Boise plant produced 92,000 belis. Actual leather purchased was 304,500 strips at $3.30 per strip. There were no beginning ending inventories of leather. Actual direct labor was 79,900 hours at $14.50 per hour. Required: , 1. Break down the total variance for materials into a price variance and a usage variance using the columnar and formula approaches, Enter fovorable values as negative numbers and unfavorable values as positive numbers