Smashing Pumpkins Co. provided the following data:

Standard amount of materials per unit

5 pounds

Standard price of materials

$8 per pound

Cost of materials purchased

$136,000

Amount of materials purchased

16,000 pounds

Amount of materials used

15,000 pounds

Units of product manufactured

3,500 units

The company determines all variances as early as possible.

(1) The materials price variance was $ _______________

(2) The materials usage variance was $ _______________