Jugo Company produces apple juice sold in gallons. Recently, the company adopted the following material standard for one gallon of its apple juice: Direct materials 128 oz. @ \$0.03 = \$3.84 During the first week of operation, the company experienced the following results: a. Gallon units produced: 25,000 b. Ounces of materials purchased and used: 2,720,000 ounces at $0.060. c. No beginning or ending inventories of raw materials. Required: Note: Enter favorable values as negative numbers. Enter unfavorable values as positive numbers. 1. Compute the materials price variance. \$ 2. Compute the materials usage variance. your answer to nearest whole value. gallons What was the actual price paid per ounce of materials? Round your answer to the nearest cent. per ounce