Dawson Toys, limited$,$ produces a toy called the Maze. The company has recently created a standard cost system to help control costs and has established the following standards for the Maze toy:

Direct materials

Direct labor

During July, the company produced $4,900$ Maze toys. The toy's production data for the month are as follows:

Direct materials: $72,000$ microns were purchased at a cost of $$0\mathrm{.}33$ per micron. $29,125$ of these microns were still in inventory at

the end of the month.

Direct labor: $7,360$ direct labor$-$hours were worked at a cost of $$53,728.$

Compute the materials price and quantity variances. $(4$ marks$)$