Q. (REQUIRED) The following standards have been established for a raw material used to make product 192: Standard quantity of the material per unit of output.... Standard price of the material. 4.5 pounds $13.90 per pound The following data pertain to a recent month's operations: Actual material purchased Actual cost of material purchased Actual material used in production Actual output 2.000 pounds $26.200 1.300 pounds 220 units of product 192 The direct materials purchases variance is computed when the materials are purchased. Required: a. What is the materials price variance for the month? b. What is the materials quantity variance for the month