Ko Tao Custom Shirt Company uses a special fabric in the production of dress shirts. During August, Ko Tao Custom Shirt purchased and used 9, 900 square yards in the production of 3, 200 shirts at a total cost of B6, 860, 700. (B stands for the Thai baht. There are roughly 30 bahts to a U.S. dollar.)The standard allows three yard(s) at B700 per yard for each shirt. Requirement 1. Calculate the material price variance and the material quantity variance. (Enter all amounts as positive numbers.) Completing the variance analysis below for direct materials. Be sure to label each variance as favorable or unfavorable