Soar, Inc. manufactures a product that has the direct materials standard cost presented below. Budgeted and actual information for the current month for the manufacture of the finished product and the purchase and use of the direct materials is also presented.

Standard cost for direct materials: 1.60 lb. @ $2.50 per lb.

Budget: Finished goods (in units) = 30,000,Direct materials usage (in pounds) = ? ,Direct materials purchases (in pounds) = 48,000 , Total cost of direct materials purchases= ?

Actual: Finished goods (in units) = 32,000 , Direct materials usage (in pounds)= 51,000, Direct materials purchases (in pounds) = 50,000, Total cost of direct materials purchases= $120,000

Soar's direct materials price variance for the current month is? Soar's direct materials usage/quantity variance for the current month is?