Mini-Exercise 15-3 (Algo) Direct material varlances LO 4,5 Acme Company's production budget for August is 19,100 units and includes the following component unit costs direct materials, $9.00, direct labor $11.50, variable overhead, $5.00. Budgeted fixed overhead is $48,000. Actual production in August was 21,942 units. Actual unit component costs incurred during August include direct materials, $10.00, direct labor. $1100; variable overhead, $7.00. Actual fixed overhead was $51100. The standard direct material cost per unit consists of 10 pounds of raw material at $0.9 per pound. During August, 292,560 pounds of raw material were used that were purchased at $0.75 per pound Required: Calculate the materials price variance and materials usage variance for August (Do not round Intermediate calculations. Indicate the effect of each varlance by selecting "P" for favorable, "U" for unfavorable, and "None" for no effect (l.e., zero variance).) Material price vanance Material usage varande