Craydye makes all sorts of moldings. Its standard quantity of material allowed is 1 foot of wood per 1 foot of molding at a standard price of $3.00 per foot. During August, it purchased 200,000 feet of wood at a cost of $2.00 per foot, which produced only 199,000 feet of molding. Calculate the materials price variance and the materials usage variance.

a.$400,000 F and $1,000 U

b.$700,000 U and $4,000 F

c.$600,900 U and $2,500 F

d.$200,000 F and $3,000 U