DM variances Bell Inc. manufactures a product that requires five pounds of material. The purchasing agent has an opportunity to purchase the necessary material at a vendors bankruptcy sale at $1.40 per pound rather than the standard cost of $2.10 per pound. The purchasing agent purchases 240,000 pounds of material on May 31. During the next four months, the companys production and material usage was as follows:

	Production	Quantity Used
June	7,200	39,360	pounds
July	8,160	42,336	pounds
August	6,960	35,880	pounds
September	6,000	31,440	pounds

Note: Round all of your final answers below to the nearest whole dollar.

a. What is the material price variance for this purchase? Note: Do not use a negative sign with your answer. Material price variance $Answer AnswerFavorableUnfavorableNeither favorable or unfavorable b. What is the material quantity variance for each month for this material? Note: Do not use a negative sign with your answers.

June material quantity variance	Answer	AnswerFavorableUnfavorableNeither favorable or unfavorable
July material quantity variance	Answer	AnswerFavorableUnfavorableNeither favorable or unfavorable
August material quantity variance	Answer	AnswerFavorableUnfavorableNeither favorable or unfavorable
September material quantity variance	Answer	AnswerFavorableUnfavorableNeither favorable or unfavorable