The following data relate to direct materials costs for the month of August:

Actual costs 4,600 pounds at $5.50/lb

Standard costs 4,500 pounds at $6.00/lb

What is the direct materials price variance for August?

$2,250 favorable

$2,250 unfavorable

$2,300 favorable

$1,700 unfavorable

The following data relate to direct materials costs for the month of May to produce 2,500 units of a product:

Actual costs 2,600 pounds at $8.75/lb

Standard costs 2,500 pounds at $8.00/lb

What is the direct materials quantity variance for May?

$875 favorable

$800 favorable

$800 unfavorable

$875 unfavorable