Fiberworks Company is a manufacturer of fiberglass toy boats. The company has recently implemented a standard cost system and has designed the system to isolate variances as soon as possible. During the month of May, the following results were reported for the production of 100,000 toy boats:

Direct materials (fiberglass) purchased	200,000	pounds
Direct materials issued into production	180,000	pounds
Standard pounds allowed per boat	1.75	pounds
Standard price per pound	$7.00
Cost of fiberglass purchased	$1,420,000

a. Calculate the actual cost per pound of fiberglass purchased during May.

b. Calculate the direct materials purchase price variance for May.

c. Calculate the direct materials usage variance for May.