Exercise $16-41($Algo$)$ Variable Cost Variances $($LO $16-5)$

The standard direct material cost per unit for Willis Group was $$192(=$ $$48$ per gallon $4$ gallons per unit$).$ During the period, actual

direct materials costs amounted to $$2,571,840,$ materials used totaled $55,525$ gallons, and $13,370$ units were produced.

Required:

Compute the direct materials price and efficiency variances for the period.

Note: Indicate the effect of each variance by selecting $"$F$"$ for favorable, or $"$U$"$ for unfavorable. If there is no effect, do not select

either option.