Materials Variances Manzana 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. @ $0.05 $6.40 During the first week of operation, the company experienced the following results: a. Gallon units produced: 20,000. b. Ounces of materials purchased and used: 2,650,000 ounces at $0.045 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. X Favorable 2. Compute the materials usage variance. X Unfavorable V