Direct material variances. VW manufacturing produces WiFi Jammers. For each Jammer, VW plans on using 3.8 pounds of material at an expected price of $1.50 per pound. VW produces 5,000 jammers during July. During July, the company purchased 27,500 pounds of plastic at a price of $48,125. Only 20,000 pounds were actually used during July. Required: Compute the direct material quantity and price variance for July.