Fischer Fabrication reported the following information concerning its direct materials:

Direct materials purchased (actual)	$ 375,200
Standard cost of materials purchased	$ 360,500
Standard price times actual amount of materials used	$ 332,500
Actual production	56,700	units
Standard direct materials costs per unit produced	$ 6

Required:

Compute the direct materials cost variances.

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.

\begin{tabular}{|l|l|l|} \hline Direct Materials & & \\ \hline Price variance & & U \\ \hline Efficiency variance & & F \\ \hline Total direct materials cost variance & & U \\ \hline \end{tabular}