Please answer in 100 words

A company wants to figure out what its total direct materials variance is. It knows that the actual quantity was 9,000 lbs. of plastic. Also, the actual price for one pound of plastic was $1.20. This was not the same as the standard amounts that were set. The standard quantity of plastic was 8,600 lbs. and the standard price for one pound was $1.35. Using this information, what is the price variance for this company? What about the quantity variance? Regarding each of these, are they favorable or unfavorable variances? Finally, what is the company's total direct materials variance?