Question 2 (3 marks) Calculate direct material price variance and direct material usage variance for a product with the following data given: (State F or U in the answers) per unit of product: Standards Direct materials 4 kg at $0.75 per kg Actual details for a given financial period: Output produced in units 38,000 units Direct materials: Purchased and used 180,000 Kg Direct material costs $126,000 There was no work in progress at the beginning or end of the period.