Mini-Exercise 15-3 (Algo) Direct material variances LO 15-4, 155 Acme Company's production budget for August is 18.000 units and includes the following component unit costs: direct materials, $9.00; direct labor, $11.20; variable overhead, $6.00. Budgeted fixed overhead is $44,000. Actual production in August was 18,400 units, Actual unit component costs incurred during August include direct materials, $9.40; direct labor, $10.00; variable overhead, $6.60. Actual fixed overhead was $46,700. The standard direct material cost per unit consists of 10 pounds of raw material at $0.90 per pound. During August, 216,200 pounds of raw material were used that were purchased at $0.80 per pound. Required: Calculate the materials price variance and materials usage variance for August. Note: Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, " U " for unfavorable, and "None" for no effect (i.e, zero variance)