Edna Krabapple manufactures a product that has a standard materials cost of two pounds of raw materials at $2 per pound. During November 500 pounds of raw materials costing $4 per pound were used to make 450 units of product. Calculate the Materials Price variance. Indicate whether the variance is favorable (F) or unfavorable (U) a. b. Calculate the Materials Quantity Variance and indicate whether the variance is favorable (F) or unfavorable (U)