Hutto Corp. has set the following standard direct materials and direct labor costs per unit for the product it manufactures.

Direct materials (14 lbs. @ $4 per lb.)			$56
Direct labor (3 hrs. @ $16 per hr.)			48

During May the company incurred the following actual costs to produce 8,100 units.

Direct materials (116,300 lbs. @ $3.80 per lb.)		$	441,940
Direct labor (28,900 hrs. @ $16.10 per hr.).			465,290

AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price AH = Actual Hours SH = Standard Hours AR = Actual Rate SR = Standard Rate (1) Compute the direct materials price and quantity variances.